WSP Global (TSE:WSP) Reaches New 52-Week Low – Here’s What Happened

WSP Global Inc. (TSE:WSP) reached a new 52-week low on Wednesday . The company traded as low as C$170.59 and last traded at C$172.10, with a volume of 152846 shares. The stock had previously closed at C$174.44.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WSP. National Bank Financial increased their price target on WSP Global from C$268.00 to C$272.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. BMO Capital Markets lowered their target price on WSP Global from C$334.00 to C$305.00 in a report on Friday, May 8th. Scotiabank increased their target price on WSP Global from C$284.00 to C$286.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Canaccord Genuity Group cut 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. Finally, Desjardins reduced their price target on WSP Global from C$375.00 to C$372.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat.com, WSP Global currently has a consensus rating of “Buy” and a consensus price target of C$313.42.

WSP Global Stock Down 0.8%

The firm has a market capitalization of C$23.33 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.09 and a beta of 0.20. The stock has a fifty day moving average of C$191.61 and a two-hundred day moving average of C$222.70. The company has a debt-to-equity ratio of 87.04, a current ratio of 1.19 and a quick ratio of 1.04.

WSP Global (TSE:WSP) last announced 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 firm had revenue of C$4.55 billion for the quarter. Sell-side analysts anticipate that WSP Global Inc. will post 9.5687404 earnings per share for the current year.

WSP Global Announces Dividend

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

Insider Buying and Selling

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

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).