CIBC Has Lowered Expectations for WSP Global (TSE:WSP) Stock Price

WSP Global (TSE:WSP) had its price target cut by equities researchers at CIBC from C$280.00 to C$278.00 in a research note issued to investors on Monday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 14.02% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of WSP Global from C$257.00 to C$280.00 in a research report on Friday, November 8th. Scotiabank upgraded shares of WSP Global to a “strong-buy” rating in a report on Friday, October 25th. Raymond James upped their price objective on WSP Global from C$270.00 to C$310.00 and gave the stock a “strong-buy” rating in a report on Thursday. Royal Bank of Canada boosted their price target on WSP Global from C$261.00 to C$279.00 in a research report on Friday, November 8th. Finally, Canaccord Genuity Group lifted their price objective on WSP Global from C$260.00 to C$275.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$271.73.

WSP Global Price Performance

Shares of TSE:WSP traded down C$2.81 on Monday, hitting C$243.82. The company had a trading volume of 82,371 shares, compared to its average volume of 170,679. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 71.81. The company has a market cap of C$30.40 billion, a PE ratio of 51.01, a PEG ratio of 1.09 and a beta of 0.82. WSP Global has a 52-week low of C$196.00 and a 52-week high of C$262.00. The business has a 50 day moving average of C$250.12 and a 200 day moving average of C$239.56.

WSP Global (TSE:WSP) last announced its earnings results on Wednesday, November 6th. The company reported C$2.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$2.24. The firm had revenue of C$3 billion for the quarter, compared to analyst estimates of C$3 billion. WSP Global had a net margin of 4.03% and a return on equity of 9.40%. As a group, equities analysts anticipate that WSP Global will post 9.5687404 earnings per share for the current fiscal year.

WSP Global Company Profile

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.