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

Shares of WSP Global Inc. (TSE:WSP) reached a new 52-week low during mid-day trading 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 traded. The stock had previously closed at C$173.00.

A number of other research analysts also recently weighed in on the company. Canaccord Genuity Group dropped their price target on WSP Global from C$345.00 to C$315.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. BMO Capital Markets reduced their price objective on WSP Global from C$334.00 to C$305.00 in a research note on Friday, May 8th. Scotiabank decreased their price objective on WSP Global from C$286.00 to C$281.00 and set a “sector outperform” rating for the company in a report on Friday. TD lowered their target price on WSP Global from C$308.00 to C$307.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus cut their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$303.25.

Insider Transactions at WSP Global

In related news, Director Pascale Sourisse acquired 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, with a total value of C$62,615.28. Following the acquisition, the director owned 888 shares of the company’s stock, valued at approximately C$152,753.76. This trade represents a 69.47% increase in their position. Company insiders own 0.06% of the company’s stock.

WSP Global Stock Performance

The company has a 50-day moving average of C$187.49 and a 200-day moving average of C$220.60. The company has a market cap of C$23.33 billion, a PE ratio of 23.60, a PEG ratio of 1.09 and a beta of 0.20. 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) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$2.21 EPS for the quarter. The business had revenue of C$4.55 billion during the quarter. WSP Global had a return on equity of 10.39% and a net margin of 5.23%. As a group, analysts anticipate that WSP Global Inc. will post 9.5687404 earnings per share for the current year.

WSP Global Announces Dividend

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

WSP Global Company Profile

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).