Royal Bank of Canada Forecasts Strong Price Appreciation for WSP Global (TSE:WSP) Stock

WSP Global (TSE:WSP) had its price objective increased by equities research analysts at Royal Bank of Canada from C$261.00 to C$279.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 15.65% from the stock’s previous close.

A number of other brokerages also recently weighed in on WSP. CIBC upped their target price on WSP Global from C$245.00 to C$264.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price objective on shares of WSP Global from C$252.00 to C$257.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Stifel Nicolaus lifted their target price on shares of WSP Global from C$260.00 to C$285.00 in a research note on Friday, October 4th. TD Securities boosted their price target on shares of WSP Global from C$273.00 to C$279.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, ATB Capital increased 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. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, WSP Global presently has an average rating of “Buy” and an average price target of C$266.82.

WSP Global Stock Performance

Shares of TSE WSP opened at C$241.25 on Friday. The stock’s fifty day simple moving average is C$240.46 and its 200 day simple moving average is C$224.05. The stock has a market capitalization of C$30.08 billion, a price-to-earnings ratio of 50.47, a PEG ratio of 1.09 and a beta of 0.82. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 71.81. WSP Global has a 52-week low of C$180.73 and a 52-week high of C$259.17.

WSP Global (TSE:WSP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$2.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$2.24. WSP Global had a return on equity of 9.40% and a net margin of 4.03%. The firm had revenue of C$3 billion for the quarter, compared to the consensus estimate of C$3 billion. As a group, sell-side analysts forecast that WSP Global will post 9.5687404 earnings per share for the current fiscal year.

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.