WSP Global (TSE:WSP) Sets New 52-Week Low on Analyst Downgrade

Key Points

• WSP Global shares hit a new 52-week low after National Bank Financial cut its price target from C$272 to C$207, even though it kept an outperform rating. The stock traded as low as C$169.20, below its prior close of C$173.00.
• Several other analysts also trimmed their price targets on WSP Global, though the overall Wall Street view remains positive with a consensus “Buy” rating and average target price of C$303.25. Recent revisions came from TD, ATB Cormark, BMO, Scotiabank, and Desjardins.
• Insider buying provided a small vote of confidence, as director Pascale Sourisse purchased 364 shares at about C$172.02 each. WSP also recently reported quarterly EPS of C$2.21 and announced a quarterly dividend of C$0.375 per share.

WSP Global Inc. (TSE:WSP - Get Free Report)'s share price hit a new 52-week low on Tuesday after National Bank Financial lowered their price target on the stock from C$272.00 to C$207.00. National Bank Financial currently has an outperform rating on the stock. WSP Global traded as low as C$169.20 and last traded at C$172.35, with a volume of 30302 shares. The stock had previously closed at C$173.00.

WSP has been the topic of several other reports. TD lowered their target price on shares of WSP Global from C$308.00 to C$307.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. ATB Cormark Capital Markets cut their price target on WSP Global from C$335.00 to C$330.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. BMO Capital Markets reduced their price target on WSP Global from C$334.00 to C$305.00 in a research report on Friday, May 8th. Scotiabank decreased their target price on WSP Global from C$286.00 to C$281.00 and set a "sector outperform" rating on the stock in a research report on Friday. Finally, Desjardins lowered their price target on shares of WSP Global from C$375.00 to C$372.00 and set a "buy" rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$303.25.

Insider Transactions at WSP Global

In other WSP Global news, Director Pascale Sourisse purchased 364 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was purchased at an average cost of C$172.02 per share, for a total transaction of C$62,615.28. Following the acquisition, the director owned 888 shares in the company, valued at approximately C$152,753.76. The trade was a 69.47% increase in their position. 0.06% of the stock is currently owned by insiders.

WSP Global Stock Performance

The stock has a market capitalization of C$23.33 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.20. The company has a 50 day simple moving average of C$187.49 and a 200-day simple moving average of C$220.60. The company has a quick ratio of 1.04, a current ratio of 1.19 and a debt-to-equity ratio of 87.04.

WSP Global (TSE:WSP - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$2.21 earnings per share for the quarter. The company had revenue of C$4.55 billion during the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. As a group, equities research analysts expect that WSP Global Inc. will post 9.5687404 EPS for the current fiscal year.

WSP Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. WSP Global's payout ratio is 20.46%.

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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