Desjardins Comments on WSP Global Inc.’s Q3 2024 Earnings (TSE:WSP)

WSP Global Inc. (TSE:WSP) – Research analysts at Desjardins dropped their Q3 2024 EPS estimates for WSP Global in a research report issued on Wednesday, July 31st. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of $2.24 for the quarter, down from their prior forecast of $2.26. Desjardins currently has a “Buy” rating and a $249.00 target price on the stock. The consensus estimate for WSP Global’s current full-year earnings is $8.10 per share. Desjardins also issued estimates for WSP Global’s Q4 2024 earnings at $2.25 EPS and FY2024 earnings at $7.92 EPS.

WSP Global (TSE:WSP) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C$1.55 earnings per share for the quarter, beating the consensus estimate of C$1.48 by C$0.07. WSP Global had a return on equity of 9.05% and a net margin of 3.88%. The company had revenue of C$2.79 billion during the quarter, compared to analysts’ expectations of C$2.76 billion.

Several other research firms have also recently weighed in on WSP. Canaccord Genuity Group raised their target price on shares of WSP Global from C$235.00 to C$255.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. CIBC raised their target price on shares of WSP Global from C$239.00 to C$245.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. TD Securities boosted their price target on WSP Global from C$265.00 to C$273.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets boosted their target price on WSP Global from C$249.00 to C$252.00 in a report on Thursday, August 1st. Finally, ATB Capital lifted their price objective on shares of WSP Global from C$225.00 to C$235.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, WSP Global currently has an average rating of “Buy” and an average price target of C$246.92.

WSP Global Stock Down 2.4 %

WSP stock opened at C$214.24 on Monday. The company has a market cap of C$26.71 billion, a price-to-earnings ratio of 47.50, a P/E/G ratio of 1.09 and a beta of 0.82. WSP Global has a twelve month low of C$174.39 and a twelve month high of C$230.98. The business has a 50 day moving average price of C$214.57 and a two-hundred day moving average price of C$213.07. The company has a quick ratio of 1.04, a current ratio of 1.20 and a debt-to-equity ratio of 70.90.

Insider Activity at WSP Global

In other news, insider Caisse de dépôt et placement du Québec sold 2,884,630 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$206.30, for a total transaction of C$595,099,169.00. 0.07% of the stock is currently owned by corporate insiders.

WSP Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.375 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.70%. WSP Global’s payout ratio is 33.26%.

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.