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

Shares of WSP Global Inc. (TSE:WSP) reached 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.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group cut their price objective on shares of WSP Global from C$345.00 to C$315.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets cut their price target on WSP Global from C$334.00 to C$305.00 in a report on Friday, May 8th. Scotiabank upped their price objective on 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. TD decreased their price objective 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. Finally, National Bank Financial boosted their price objective on shares of WSP Global from C$268.00 to C$272.00 and gave the stock 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$309.08.

Insider Transactions at WSP Global

In related news, Director Pascale Sourisse bought 364 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was 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 acquisition, the director owned 888 shares of the company’s stock, valued at C$152,753.76. The trade was a 69.47% increase in their ownership of the stock. 0.06% of the stock is owned by corporate insiders.

WSP Global Stock Performance

The company has a debt-to-equity ratio of 87.04, a current ratio of 1.19 and a quick ratio of 1.04. The firm has a market capitalization of C$23.33 billion, a PE ratio of 23.61, a P/E/G ratio of 1.09 and a beta of 0.20. The company’s fifty day simple moving average is C$189.55 and its 200 day simple moving average is C$221.69.

WSP Global (TSE:WSP) last issued its earnings results on Wednesday, May 6th. The company reported C$2.21 EPS for the quarter. WSP Global had a return on equity of 10.39% and a net margin of 5.23%.The business had revenue of C$4.55 billion during the quarter. As a group, equities research analysts expect that WSP Global Inc. will post 9.5687404 EPS for the current fiscal year.

WSP Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. WSP Global’s dividend payout ratio (DPR) is presently 20.46%.

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).