WSP Global (TSE:WSP) Reaches New 52-Week Low - Should You Sell?

Key Points

• WSP Global shares hit a new 52-week low, trading as low as C$168.99 after falling about 5% in intraday trading. The stock was last seen at C$169.85, well below its recent closing price of C$175.14.
• Despite the weakness, Wall Street sentiment remains positive: the stock has a consensus “Buy” rating and an average price target of C$300.50. Several analysts recently trimmed their targets, but most still rate the company favorably.
• The company remains financially solid and continues paying dividends, with a recent quarterly dividend of C$0.375 per share and an annualized yield of 0.9%. WSP also reported Q1 earnings of C$2.21 per share and revenue of C$4.55 billion.

Shares of WSP Global Inc. (TSE:WSP - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$168.99 and last traded at C$169.85, with a volume of 229735 shares. The stock had previously closed at C$175.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BMO Capital Markets cut their price objective on WSP Global from C$278.00 to C$272.00 in a research note on Tuesday, July 14th. Desjardins set a C$372.00 price target on WSP Global and gave the stock a "buy" rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce dropped their price target on WSP Global from C$318.00 to C$266.00 and set an "outperformer" rating for the company in a research report on Wednesday, July 8th. Scotiabank dropped their price target on WSP Global from C$286.00 to C$281.00 and set a "sector outperform" rating for the company in a research report on Friday, July 10th. Finally, National Bank Financial reduced their price objective on WSP Global from C$272.00 to C$207.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$300.50.

WSP Global Trading Down 5.0%

The company has a market capitalization of C$22.44 billion, a PE ratio of 22.71, a PEG ratio of 1.09 and a beta of 0.20. The company has a fifty day simple moving average of C$182.17 and a 200-day simple moving average of C$217.06. The company has a current ratio of 1.19, a quick ratio of 1.04 and a debt-to-equity ratio of 87.04.

WSP Global (TSE:WSP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$2.21 earnings per share for the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. The firm had revenue of C$4.55 billion for the quarter. Analysts predict that WSP Global Inc. will post 9.5687404 EPS for the current year.

WSP Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. WSP Global's payout ratio is presently 20.46%.

Insider Buying and Selling at WSP Global

In other news, Director Pascale Sourisse purchased 364 shares of the company's stock in a transaction dated Wednesday, June 24th. The stock was acquired at an average price of C$172.02 per share, with a total value of C$62,615.28. Following the purchase, the director directly owned 888 shares in the company, valued at approximately C$152,753.76. This represents a 69.47% increase in their position. 0.06% of the stock is currently owned by company insiders.

About WSP Global

WSP Global Inc provides engineering and design services to clients in the Transportation & Infrastructure, Property and Buildings, Environment, Power and Energy, Resources, and Industry sectors. It also offers strategic advisory services. The firm operates through four reportable segments namely, Canada, Americas ( US and Latin America), EMEIA (Europe, Middle East, India and Africa), and APAC (Asia Pacific, comprising Australia, New Zealand and Asia).

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