WSP Global (TSE:WSP) Share Price Passes Below 200 Day Moving Average - What's Next?

Key Points

• WSP Global shares fell below their 200-day moving average, trading as low as C$194.10 and closing at C$196.50 versus a 200-day average of C$206.52.
• Despite the technical weakness, analysts remain bullish: WSP has a consensus “Buy” rating and an average price target of C$294.15, although several firms recently lowered their targets.
• The company reported quarterly EPS of C$2.88 on C$5.40 billion in revenue and pays a quarterly dividend of C$0.375, equivalent to an annualized yield of about 0.8%.

WSP Global Inc. (TSE:WSP - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$206.52 and traded as low as C$194.10. WSP Global shares last traded at C$196.50, with a volume of 519,051 shares changing hands.

Wall Street Analysts Forecast Growth

WSP has been the subject of a number of recent analyst reports. National Bank Financial boosted their target price on WSP Global from C$207.00 to C$219.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Stifel Nicolaus dropped their price target on shares of WSP Global from C$320.00 to C$280.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Royal Bank Of Canada lifted their price target on shares of WSP Global from C$300.00 to C$304.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. ATB Cormark Capital Markets decreased their price objective on shares of WSP Global from C$330.00 to C$325.00 and set an "outperform" rating for the company in a report on Friday, August 7th. Finally, Desjardins lowered their price objective on shares of WSP Global from C$372.00 to C$369.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. Based on data from MarketBeat.com, WSP Global presently has a consensus rating of "Buy" and an average price target of C$294.15.

WSP Global Stock Up 0.4%

The company's 50-day simple moving average is C$178.73 and its two-hundred day simple moving average is C$206.52. The firm has a market capitalization of C$26.49 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.09 and a beta of 0.19. The company has a debt-to-equity ratio of 84.47, a current ratio of 1.20 and a quick ratio of 1.04.

WSP Global (TSE:WSP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$2.88 EPS for the quarter. WSP Global had a return on equity of 9.52% and a net margin of 4.81%.The firm had revenue of C$5.40 billion during the quarter. As a group, research analysts expect that WSP Global Inc. will post 9.5687404 earnings per share for the current year.

WSP Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.375 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.50 dividend on an annualized basis and a yield of 0.8%. WSP Global's dividend payout ratio is presently 21.40%.

Insider Activity at WSP Global

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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