It's been a good week for WSP with 2 good contracts awarded. Anyone follow these. Does seem to be on an upward climb. Technically has now broken up through strong resistance at 55p now at 74p and up 10p on the week (17%)

A pretty impressive graph.
Brokers Numis/Seymour/Altium/ABN Amro all give this a buy rating with an EPS of +/- 35p for 2007, & an EPS +/- 40p for 2008.
2006 saw a turnover of 416m & a pre-tax profit of 26m.
I still haven't been able to find the ex-divi dates, even from their website.
I have been watching this for a few months & looks good for a medium term investment imo.

Nice to see two very recent broker upgrades both putting the stock on a forward P/E of just over 5 ........... way too cheap IMHO...

WSP Group PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
31-03-09 BUY 40.08 43.87 15.00 39.14 42.83 15.00

ABN AMRO
30-03-09 BUY 40.00 43.13 15.50 38.50 41.48 16.00

not so good to see stock being dumped then!

Cyners stock dumped!!!!!!!!, it went ex divi yesterday ......... you divi.

And here are those broker notes now in full...

WSP Group PLC

FORECASTS WIRES
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
31-03-09 BUY 40.08 43.87 15.00 39.14 42.83 15.00

ABN AMRO
30-03-09 BUY 40.00 43.13 15.50 38.50 41.48 16.00

Arbuthnot Securities
30-03-09 NEUT 43.44 49.17 15.00 44.99 49.70 15.00

W H Ireland Ltd
27-03-09 BUY 37.80 41.60 15.00 39.80 43.70 15.00

Brewin Dolphin Investment Banking
24-03-09 ADD 36.50 39.80 15.00 35.00 38.10 15.00

KBC Peel Hunt Ltd
19-03-09 HOLD 40.28 56.58 15.00 43.09 44.88 15.00

Blue Oar Securities
13-03-09 BUY 38.37 43.11 15.00 42.02 47.21 15.75

FinnCap [R]
05-03-09 HOLD 54.00 61.00 16.00

Numis Securities Ltd
02-03-09 BUY 43.00 47.00 15.00

Altium Securities
02-03-09 HOLD 40.00 43.00 15.00 43.00 45.90 15.00

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 39.42 44.39 15.00 40.84 44.26 15.00
1 Month Change -0.70 -0.54 0.00 -0.40 -0.06 0.00
3 Month Change -3.10 -1.56 0.02 -3.87 -2.62 -0.11


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS 20.96% -10.22% -0.29%
DPS 30.00% 15.38% 0.00%

INVESTMENT RATIOS

2008 (A) 2009 (E) 2010 (E)

EBITDA m 54.72m 54.87m

EBIT m 44.64m 46.59m

Dividend Yield 5.83% 6.73% 6.73%

Dividend Cover 3.80x 2.96x 2.95x

PER 4.51x 5.02x 5.04x

PEG 0.22f -0.49f -17.20f

Net Asset Value PS p 318.07p 343.94p


A forward P/E of just 5.......... miserly.

Robbie (smirkey) Burns as tipped this one late fri afternoon. (hes always a week behind me)

Cant stand the leech but I suppose itl send the sp up even more come monday.

Cyners did you go in??.

no matey, i didn't for no particular reason ...... didn't even check what sort of spread the share has ..... have had a particularly good week though and even had the sense to bank a lot of profits

heavily into AFR for monday, and have also done well with WOS, KAH and LAM

not sure where you reside, but would happily meet for a pie and a pint if it suits ..... i'm between maidenhead and henley

I'm in last 10 mins this afternoon..gl all.

Cyners thats very kind of you, but not my cup of tea as 1. I live in the yorkshire area and 2. im not the type for mixing and that kind of thingy. Im not a social animal ... so to speak.

I hope you dont take that personal, its not meant to offend.

Always available for a PM though and a chat on any stock or anything.... with anyone aswell.

Good to see so many having good rewards over the last few days.

no probs .... my mother was brought up in Harrogate and now my older son (+ fiancee) live there too

These are cheap for no reason.

Heading back to 300p imo.

Its a Buy alone just on the NAV and forecast NAV never mind the cheap rating of just over P/E 5.................


Concensus Broker Figures.....

INVESTMENT RATIO

2008 (A) 2009 (E) 2010 (E)

EBITDA m 55.47m 54.87m

EBIT m 44.64m 46.59m

Dividend Yield 5.58% 6.44% 6.44%

Dividend Cover 3.80x 2.99x 2.93x

PER 4.71x 5.20x 5.30x

PEG 0.22f -0.56f -2.79f

Net Asset Value PS p 318.10p 344.01p

Attractive aswell if you like a divi play.

And the Brokers just love it...

What The Brokers Say

Strong Buy 6
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 10

6 strong Buys, that takes some beating.

Zak Mir Pro TAers take on WSP this morning.......

Zak Mir

Reged: 28/06/07
Posts: 741
Re: WSH -- WSP group,tremendous potential for upside
#443067 - 09/04/09 08:48 AM Edit Reply Quote



Technically, the U shaped recovery on the daily chart since the autumn suggests that while above say, the 20 day moving average at 222p the upside here could be as great as September resistance above 500p.

We had a new broker BUY note out yesterday from Panmure one of the better houses,

Was lateish on aswel, so a lot not taken action yet...

WSP Group PLC

FORECASTS

2009 2010

Panmure Gordon
08-04-09 BUY 40.08 43.87 15.00 39.14 42.83 15.00

W H Ireland Ltd
02-04-09 BUY 37.80 41.60 15.00 39.80 43.70 15.00

Interesting points made by Brokers.....

Brewin Dolphin thinks risk to current year estimates is on the upside, despite the fact the market is pricing in significant earnings risk in 2009 and beyond. It estimates that around just 10 percent of WSP's global revenue is derived from markets that are exposed to likely weakening demand. Evolution Securities said it thinks WSP's rating compared to the peer group is "anomalous and large". It said that were WSP to be rated at the same multiple as WS Atkins, the share price would be 40 percent higher at over 700 pence per share.

Going rather well this morning.

Topped up on the pull back this morning.

Found these broker figs on the companys website and overall things look very impressive given present market conditions...

Broker Forecasts and Consensus

2009 Broker Forecasts Broker Date Rec Pre-tax
(m) EPS (p) DPS (p)

KBC Peel Hunt Ltd 15/04/2009 HOLD 39.97 56.58 15.00
Panmure Gordon 15/04/2009 BUY 39.28 42.99 15.00
W H Ireland Ltd 14/04/2009 BUY 37.80 41.60 15.00
Arbuthnot Securities 08/04/2009 NEUT 43.44 49.17 15.00
Altium Securities 01/04/2009 HOLD 41.70 45.90 15.00
ABN AMRO 30/03/2009 BUY 40.00 43.13 15.50
Brewin Dolphin Investment Banking 27/03/2009 ADD 36.50 39.80 15.00
Blue Oar Securities 13/03/2009 BUY 38.37 43.11 15.00
Numis Securities Ltd 02/03/2009 BUY 43.00 47.00 15.00

2010 Broker Forecasts Broker Date Rec Pre-tax
(m) EPS (p) DPS (p)

KBC Peel Hunt Ltd 15/04/2009 HOLD 41.98 44.53 15.00
Panmure Gordon 15/04/2009 BUY 38.24 41.85 15.00
W H Ireland Ltd 14/04/2009 BUY 39.80 43.70 15.00
Arbuthnot Securities 08/04/2009 NEUT 44.99 49.70 15.00
Altium Securities 01/04/2009 HOLD 45.60 50.10 15.00
ABN AMRO 30/03/2009 BUY 38.50 41.48 16.00
Brewin Dolphin Investment Banking 27/03/2009 ADD 35.00 38.10 15.00
Blue Oar Securities 13/03/2009 BUY 42.02 47.21 15.75
FinnCap[R] 05/03/2009 HOLD NaN NaN NaN
Numis Securities Ltd 02/03/2009 BUY 0.00 0.00 0.00

Quick broker Shot...

What The Brokers Say

Strong Buy 6
Buy 1
Neutral 3
Sell 0
Strong Sell 0

Total 10