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%)

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

Just added some more.

Cant see these barring a market melt down getting any cheaper.

Broker Snap shot...

WSP Group PLC

FORECASTS

2009 2010

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

Panmure Gordon
16-04-09 BUY 39.28 42.99 15.00 38.24 41.85 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

Pro TAer ZAK MIR as given this analysis in the last few minutes on WSP....

Zak Mir



Reged: 28/06/07
Posts: 752
Re: WSH -- WSP group,tremendous potential for upsi
#443616 - 17/04/09 08:26 AM Edit Reply Quote



At the moment the favoured support zone is the 10 day moving average level just below 260p, with the near term resistance line from last month promising at least 330p while above the 10 day moving average.

Sitting on the 10 day MA and also bottom trendline of a upward trend channel.

A move back to the top of the channel would see 300p plus.

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.