Royal Bank Of Canada reissued their outperform rating on shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) in a report published on Thursday.
CP has been the subject of a number of other research reports. Credit Suisse Group reaffirmed an outperform rating and issued a $183.00 price target (up previously from $178.00) on shares of Canadian Pacific Railway Limited in a report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus raised their price target on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the stock a buy rating in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Canadian Pacific Railway Limited from a hold rating to a buy rating and set a $181.00 price target for the company in a report on Wednesday, July 12th. BidaskClub raised shares of Canadian Pacific Railway Limited from a hold rating to a buy rating in a report on Saturday, July 1st. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $180.00 price target (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 14th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $187.56.
Shares of Canadian Pacific Railway Limited (CP) traded down 0.14% during midday trading on Thursday, hitting $162.16. 567,472 shares of the company traded hands. The company has a 50-day moving average price of $159.20 and a 200-day moving average price of $152.86. The stock has a market capitalization of $23.79 billion, a P/E ratio of 20.64 and a beta of 1.11. Canadian Pacific Railway Limited has a 52 week low of $139.29 and a 52 week high of $167.52.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be given a dividend of $0.4411 per share. This represents a $1.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is currently 19.88%.
Canadian Pacific Railway Limited announced that its board has approved a stock buyback plan on Wednesday, May 10th that permits the company to buyback 4,380,000 outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in Canadian Pacific Railway Limited by 37.0% in the first quarter. Parallel Advisors LLC now owns 870 shares of the transportation company’s stock valued at $134,000 after buying an additional 235 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Canadian Pacific Railway Limited by 3.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,135 shares of the transportation company’s stock valued at $166,000 after buying an additional 35 shares in the last quarter. Schafer Cullen Capital Management Inc. purchased a new stake in Canadian Pacific Railway Limited during the first quarter valued at approximately $201,000. Atria Investments LLC purchased a new stake in Canadian Pacific Railway Limited during the second quarter valued at approximately $221,000. Finally, Fox Run Management L.L.C. purchased a new stake in Canadian Pacific Railway Limited during the second quarter valued at approximately $241,000. Institutional investors own 70.18% of the company’s stock.
Canadian Pacific Railway Limited Company Profile
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.
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