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%)

Forward P/E of just over 6.

Could double from here and still be derd cheap.....

WSP Group PLC

FORECASTS
2009 2010

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

22-04-09 NEUT 43.44 49.17 15.00 44.99 49.70 15.00
Panmure Gordon
22-04-09 BUY 39.28 42.99 15.00 38.24 41.85 15.00
Numis Securities Ltd
20-04-09 BUY 40.00 43.50 15.00 39.20 42.30 15.00
KBC Peel Hunt Ltd
15-04-09 HOLD 39.97 56.58 15.00 41.98 44.53 15.00
W H Ireland Ltd
14-04-09 BUY 37.80 41.60 15.00 39.80 43.70 15.00
Altium Securities
01-04-09 HOLD 41.70 45.90 15.00 45.60 50.10 15.00
ABN AMRO
30-03-09 BUY 40.00 43.13 15.50 38.50 41.48 16.00
Brewin Dolphin Investment Banking
27-03-09 ADD 36.50 39.80 15.00 35.00 38.10 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

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

Consensus 39.28 44.20 15.00 39.90 43.41 15.00
1 Month Change -0.01 -0.43 0.00 -1.48 -1.48 0.00
3 Month Change -2.10 -0.90 0.18 -4.78 -3.48 -0.10


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

Norm. EPS 20.91% -10.57% -1.79%
DPS 30.00% 15.38% 0.00%

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 69.50m 55.54m 54.63m
EBIT 54.10m 44.64m 46.59m
Dividend Yield 4.86% 5.61% 5.61%
Dividend Cover 3.80x 2.95x 2.89x
PER 5.41x 6.05x 6.16x
PEG 0.26f -0.57f -3.45f
Net Asset Value PS -37.54p 318.20p 344.19p

Gone short here, the technicals on the chart and pointing to further downside. A bearish shooting star on the weekly chart and on the daily chart indicators turning weak and a drop towards 340p/330p could be on the cards.

On last trading statement aswell I remember they were having problems with debtors.

WSP (wsh) chart points to a fall to around the band 440p/430p.

gf do you mean 340/330p?

its trading volumes are worse than derisory (12k today), so assuredly far too thin to allow sensible shorting

Another look at the WSH chart and rather bearish is the outlook. As one can see the SP is just about to fall through the floor of an up trend channel. Their is support around the 330p area.



The weekly chart backs up the daily chart with a bearish shooting star having formed over the last week on the chart at near the top of the uptrend.