Canadian Imperial Bank of Commerce Cuts WSP Global (TSE:WSP) Price Target to C$266.00

WSP Global (TSE:WSP) had its price target lowered by equities research analysts at Canadian Imperial Bank of Commerce from C$318.00 to C$266.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target points to a potential upside of 53.50% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price objective on WSP Global from C$320.00 to C$280.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. ATB Cormark Capital Markets lowered their target price on WSP Global from C$335.00 to C$330.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Desjardins reduced 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 research report on Friday, May 8th. Scotiabank lifted their price objective on shares of WSP Global from C$284.00 to C$286.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, National Bank Financial increased their target price on shares of WSP Global from C$268.00 to C$272.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One 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.com, the company has an average rating of “Buy” and a consensus target price of C$309.08.

WSP Global Stock Down 0.7%

Shares of WSP traded down C$1.15 during trading hours on Wednesday, reaching C$173.29. 201,960 shares of the stock traded hands, compared to its average volume of 503,830. WSP Global has a 52 week low of C$170.59 and a 52 week high of C$291.46. The company has a market cap of C$23.36 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.09 and a beta of 0.20. The stock has a fifty day simple moving average of C$191.61 and a 200 day simple moving average of C$222.70. 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) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$2.21 earnings per share (EPS) for the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. The business had revenue of C$4.55 billion during the quarter. On average, equities analysts forecast that WSP Global will post 9.5687404 EPS for the current year.

Insiders Place Their Bets

In other WSP Global news, Director Pascale Sourisse bought 364 shares of the stock in a transaction on Wednesday, June 24th. The shares were acquired at an average price of C$172.02 per share, with a total value of C$62,615.28. Following the acquisition, the director directly owned 888 shares of the company’s stock, valued at C$152,753.76. The trade was a 69.47% increase in their position. Corporate insiders own 0.06% of the company’s stock.

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).