Scotia Issues Pessimistic Forecast for WSP Global (TSE:WSP) Stock Price

WSP Global (TSE:WSP) had its target price lowered by equities researchers at Scotia from C$281.00 to C$279.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotia’s target price suggests a potential upside of 46.02% from the company’s current price.

A number of other research firms have also recently commented on WSP. Scotiabank decreased their price target on WSP Global from C$286.00 to C$281.00 and set a “sector outperform” rating on the stock in a report on Friday, July 10th. TD cut their target price on WSP Global from C$307.00 to C$255.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Stifel Nicolaus decreased their target price on WSP Global from C$320.00 to C$280.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Desjardins dropped their price target on WSP Global from C$372.00 to C$369.00 and set a “buy” rating for the company in a research note on Friday. Finally, ATB Cormark Capital Markets cut 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. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$294.15.

WSP Global Price Performance

Shares of TSE WSP traded up C$1.51 during midday trading on Monday, reaching C$191.07. The stock had a trading volume of 415,253 shares, compared to its average volume of 528,776. The stock has a 50-day moving average of C$177.62 and a 200-day moving average of C$209.61. The company has a debt-to-equity ratio of 87.04, a quick ratio of 1.04 and a current ratio of 1.19. The company has a market capitalization of C$25.76 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.09 and a beta of 0.19. WSP Global has a 12-month low of C$156.64 and a 12-month high of C$291.46.

WSP Global (TSE:WSP) last released its earnings results on Wednesday, August 5th. The company reported C$2.88 earnings per share for the quarter. The company had revenue of C$5.40 billion for the quarter. WSP Global had a net margin of 5.23% and a return on equity of 10.39%. As a group, research analysts anticipate that WSP Global will post 9.5687404 EPS for the current fiscal year.

Insider Activity at WSP Global

In other news, Director Pascale Sourisse purchased 364 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was bought at an average cost of C$172.02 per share, with a total value of C$62,615.28. Following the completion of the purchase, the director owned 888 shares in the company, valued at approximately C$152,753.76. This represents a 69.47% increase in their ownership of the stock. 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).