WSP Global (TSE:WSP) Hits New 52-Week High on Analyst Upgrade

WSP Global Inc. (TSE:WSP) hit a new 52-week high on Tuesday after Canaccord Genuity Group raised their price target on the stock from C$260.00 to C$275.00. Canaccord Genuity Group currently has a buy rating on the stock. WSP Global traded as high as C$253.45 and last traded at C$250.61, with a volume of 11265 shares. The stock had previously closed at C$249.17.

Other equities analysts have also recently issued reports about the company. Desjardins upped their price objective on WSP Global from C$249.00 to C$257.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. CIBC upped their price objective on WSP Global from C$245.00 to C$264.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. ATB Capital upped their price objective on WSP Global from C$235.00 to C$250.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. TD Securities upped their price objective on WSP Global from C$273.00 to C$279.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Stifel Nicolaus upped their price objective on WSP Global from C$260.00 to C$285.00 in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$258.25.

WSP Global Price Performance

The business has a 50-day simple moving average of C$231.44 and a 200 day simple moving average of C$219.95. The firm has a market cap of C$31.15 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 1.09 and a beta of 0.82. The company has a debt-to-equity ratio of 71.81, a quick ratio of 1.04 and a current ratio of 1.13.

WSP Global (TSE:WSP) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$1.89 EPS for the quarter, missing analysts’ consensus estimates of C$1.90 by C($0.01). The business had revenue of C$2.99 billion for the quarter, compared to the consensus estimate of C$2.93 billion. WSP Global had a net margin of 4.03% and a return on equity of 9.40%. On average, analysts anticipate that WSP Global Inc. will post 9.5687404 earnings per share for the current fiscal year.

WSP Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, September 27th. WSP Global’s payout ratio is 31.38%.

About WSP Global

WSP Global Inc operates as a professional services consulting firm in the United States, Canada, the United Kingdom, Sweden, Australia, and internationally. It advises, plans, designs, and manages projects for rail, transit, aviation, highways, bridges, tunnels, water, maritime, and urban infrastructure for public and private clients, construction contractors, and other partners.