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

Shares of WSP Global Inc. (TSE:WSP) hit a new 52-week low during trading on Wednesday after Canadian Imperial Bank of Commerce lowered their price target on the stock from C$318.00 to C$266.00. Canadian Imperial Bank of Commerce currently has an outperformer rating on the stock. WSP Global traded as low as C$170.59 and last traded at C$172.10, with a volume of 152846 shares changing hands. The stock had previously closed at C$174.44.

WSP has been the subject of several other research reports. Desjardins lowered their target price 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. Stifel Nicolaus reduced their price objective on shares of WSP Global from C$320.00 to C$280.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Canaccord Genuity Group decreased their price objective on shares of WSP Global from C$345.00 to C$315.00 and set a “buy” rating for the company in a research note on Friday, May 8th. National Bank Financial boosted their target price on WSP Global from C$268.00 to C$272.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, TD reduced their target price on WSP Global from C$308.00 to C$307.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$309.08.

Insider Buying and Selling

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

WSP Global Trading Up 0.9%

The firm has a fifty day moving average of C$189.55 and a two-hundred day moving average of C$221.69. The company has a market cap of C$23.31 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.09 and a beta of 0.20. 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 released its quarterly earnings data on Wednesday, May 6th. The company reported C$2.21 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 for the quarter. As a group, sell-side analysts predict that WSP Global Inc. will post 9.5687404 EPS for the current year.

WSP Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. WSP Global’s payout ratio is presently 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).