|Bid||78.74 x 0|
|Ask||78.79 x 0|
|Day's Range||77.90 - 79.09|
|52 Week Range||56.09 - 79.09|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||29.16|
|Earnings Date||Nov. 6, 2019|
|Forward Dividend & Yield||1.50 (1.93%)|
|1y Target Est||83.63|
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,415.16, down 7.52 points).Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, 2.02 per cent, to $4.86 on 9.2 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Up 55 cents, or 5.71 per cent, to $10.19 on 8.4 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up eight cents, or 7.21 per cent, to $1.19 on 6.3 million shares.Algonquin Power & Utilities Corp. (TSX:AQN). Energy. Down 39 cents, or 2.11 per cent, to $18.06 on 5.3 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Down $1.37, or 5.75 per cent, to $22.44 on 5 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 41 cents, or 10.9 per cent, to $3.35 on 4.9 million shares. Companies in the news:Tourmaline Oil Corp. (TSX:TOU). Up $1.61 or 15 per cent to $12.33. Tourmaline Oil Corp.'s creation of a hybrid royalty company to hold some of its energy assets spurred a buying rush for the company's stock on Friday, although its share prices remained well below their 52-week highs. Tourmaline announced Thursday after markets closed it will sell a royalty on its oil and gas lands in northern Alberta and B.C., along with interests in two of its 19 natural gas processing plants and other third-party revenues, to newly created Topaz Energy Corp. for $775 million in shares and cash. Topaz is to raise $150 million to $200 million via a private placement of shares with investors to fund the deal, with the result that Tourmaline will wind up with between 75 and 81 per cent of the shares and $135 million to $185 million in cash, depending on the success of the private placement.WSP Global Inc. (TSX:WSP). Up $1.32 to $77.60. WSP Global Inc. is extending its shopping spree with the purchase of Dutch consulting firm Lievense Holding B.V. — WSP's seventh acquisition this year — in an ongoing bid to overtake rival SNC-Lavalin Group Inc. The Montreal-based engineering company announced Friday it will pay an undisclosed amount for the deal through available cash and credit facilities. The 375-employee Lievense firm gives WSP a foothold in the Netherlands and tacks on between $47 million and $56 million in additional annual revenue, according to analyst estimates. WSP's 2018 net revenues were $6 billion.MTY Food Group Inc. (TSX:MTY). Down $5.50 or 8.7 per cent to $57.75. MTY Food Group Inc. shares dropped to their lowest level in months after the restaurant franchisor reported quarterly revenue and profit that came in below analyst estimates. MTY reported earlier that profit attributable to its shareholders in the third quarter was $22.9 million or 91 cents per share for the quarter ended Aug. 31. That was up from $22.1 million or 88 cents per share in its 2018 fiscal third quarter, but short of estimates. Analysts had estimated $1.02 per share of profit and $167.9 million of revenue, according to financial markets data firm Refinitiv. MTY's revenue rose to $163.6 million from $113.0 million while system sales generated by its restaurants were a record $1.08 billion, up 36 per cent from $789.9 million a year earlier. This report by The Canadian Press was first published Oct. 11, 2019.The Canadian Press
MONTREAL — The damage to scandal-plagued SNC-Lavalin Group Inc.'s brand is spilling over to that of rival engineering firm WSP Global Inc., its CEO says.Alexandre L’Heureux said Friday that SNC-Lavalin, which has seen its market value fall by more than 60 per cent since January amid a political scandal in Ottawa, reflects badly on the Canadian engineering sector and is weighing on WSP's stock price."It’s actually tainting us," L'Heureux told The Canadian Press. "When you’re comparing a good performer with less-than-stellar performers, it’s certainly having an impact on our valuation."L'Heureux isn't alone in his theory."Expensive? Think again," said Raymond James analyst Frederic Bastien in a note to investors Thursday. "It is our belief that in recent times, the misfortunes of other Canadian engineering firms have unreasonably dragged WSP's stock price."The company's market value sits at $8.18 billion, compared with $3.22 billion for SNC-Lavalin.L'Heureux was quick to dismiss any talk of a merger or takeover of SNC-Lavalin, whose chief financial officer and former CEO have previously outlined a "Plan B" that would see the company spin off assets ahead of a potential criminal conviction."They do a lot of construction and we don’t. We are an advisory firm, we’re an engineering firm; they are a contractor. And SNC plays in different markets than we do," L'Heureux said in a phone interview."Frankly we believe that actually it would not be good news for our WSP shareholders and employees to have SNC join our ranks," he said."Obviously it’s never good news when you have competitors who are going through a rough patch, and it’s certainly not what I’d wish on our competitors."On Friday, WSP extended its shopping spree with the purchase of Dutch consulting firm Lievense Holding B.V. — WSP's seventh acquisition this year — in a bid to overtake its rival down the street in Montreal.WSP announced it will pay an undisclosed amount for the deal through available cash and credit facilities.The 375-employee Lievense firm gives WSP a foothold in the Netherlands and tacks on between $47 million and $56 million in extra annual revenue, according to analyst estimates. WSP's 2018 revenues were $6.02 billion.The acquisition fits into its goal of rapid expansion over the next couple years. Once a boutique firm called Genivar, the 60-year-old company has swelled to about 50,000 employees from 31,700 at the end of 2014. It aims to eclipse SNC-Lavalin's roughly 50,000 employees with 65,000 workers by 2021, a goal for which WSP is "absolutely" on track, L'Heureux said.WSP shares rose more than 170 per cent per cent over the past six years — and 87 per cent since October 2016, when L'Heureux became CEO — to hover at around $76 this week.Its shares rose nearly two per cent or $1.32 to close at $77.60 on the Toronto Stock Exchange Friday.Though SNC rivals such as WSP and Aecon Group Inc. are poised to gain from the retreating giant, the group of companies also compliment each other with major project partnerships — ground that might otherwise be ceded to foreign competitors.WSP's other acquisitions this year include the Danish Orbicon A/S — a 500-employee environmental consulting firm — last month and, in August, U.S.-based Ecology and Environment Inc., a 775-employee environmental consulting firm it bought for US$65.1 million.Earlier in 2019 WSP bought U.S.-based health-care engineering firm Leach Wallace Associates Inc., U.K. consultancy Indigo Planning Ltd., French geotechnical company Sepia and Swiss engineering firm Todt, Gmur + Partner AG.Thanks in part to a string of recent purchases, the company now counts 16,000 employees in Europe and between 18,000 and 19,000 in North America, WSP said.Hurdles for WSP and other engineering players remain in Ontario, where spending on public transit, infrastructure and water projects has slowed."The backlog of projects in Ontario, this is obviously creating a real slowdown in the province," L'Heureux said, pointing to a "difficult" few months following Progressive Conservative Premier Doug Ford's election in June 2018.National Bank of Canada analyst Maxim Sytchev said in an investor note last month that "other players" have uniformly expressed short-term concerns due to an apparent pause in spending in Ontario partially attributable to a change in provincial government."In April, Prime Minister Justin Trudeau accused Ontario's Progressive Conservative government of dragging its feet on vital infrastructure spending, saying the indecision endangered work for the summer construction season.Premier Doug Ford announced a $28.5-billion plan for four transit projects in the Toronto area last spring, but said the province would only cover $11.2 billion of those costs with Ottawa expected to pitch in for a share. This report by The Canadian Press was first published Oct. 11, 2019.Companies in this story: (TSX:WSP, TSX:SNC)Christopher Reynolds, The Canadian Press
WSP Global Inc. (WSP.TO) (“WSP”) is pleased to announce that it has acquired Lievense Holding B.V. (“Lievense”), a 375-employee Dutch multidisciplinary consulting firm. Lievense, which will enable WSP to establish a footprint in the Dutch market, ranks amongst the top-15 engineering consultancy firms within the Netherlands. “This transaction, which fits in our development strategy, enables us to establish a presence in the Netherlands, while strengthening our leadership in Europe where, including the UK and Ireland, we now are 16,000 people strong.
WSP Global Inc. (WSP.TO) (“WSP” or the “Corporation”) is pleased to announce the appointment of Lewis P. Cornell, P.E., as President and Chief Executive Officer, USA, effective on October 15, 2019. “We are thrilled to welcome Lewis (Lou) to WSP and our Global Leadership Team. Having someone with his technical background and extensive industry experience, coupled with his proven track record, will help us continue to execute on our growth and client strategy in the United States,” said Alexandre L’Heureux, President and Chief Executive Officer of WSP.
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WSP Global Inc. (WSP.TO) (“WSP”) is pleased to announce that it has acquired Orbicon A/S (“Orbicon”), a 500-employee Danish environmental consulting firm with additional offering in Supply & Infrastructure and Building. Orbicon, which generates approximately 75% of its revenues from environmental services, is one of the strongest brands in the environment industry in Denmark. The acquisition of Orbicon will bolster WSP’s presence in the Nordics (more particularly Denmark), while strengthening its Strategic Advisory Services offering in environment.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA. MONTREAL, Aug. 28, 2019 (GLOBE NEWSWIRE) -- WSP Global Inc. (WSP.TO) (“WSP”) announced that it has entered into a definitive merger agreement (the “Agreement”) in connection with its proposed acquisition (the “Acquisition”) of Ecology and Environment Inc. (EEI) (“E & E”), a US-headquartered environmental consulting firm which provides professional services to governments and private customers worldwide. E & E has approximately 775 employees, predominantly in offices across the United States, with an additional presence in Latin America.
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