Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) - Equities researchers at National Bank Financial raised their FY2017 earnings per share estimates for Canadian Pacific Railway Limited in a report released on Wednesday. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings per share of $8.92 for the year, up from their prior estimate of $8.60. National Bank Financial also issued estimates for Canadian Pacific Railway Limited’s Q4 2017 earnings at $2.46 EPS, Q2 2018 earnings at $2.49 EPS, Q3 2018 earnings at $2.61 EPS, Q4 2018 earnings at $2.76 EPS and FY2018 earnings at $10.16 EPS.
Other research analysts have also issued reports about the company. Loop Capital cut their price objective on Canadian Pacific Railway Limited from $157.00 to $119.00 in a report on Monday, April 24th. Stifel Nicolaus increased their price objective on Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a “buy” rating in a report on Tuesday, July 11th. BidaskClub raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Credit Suisse Group AG reissued a “buy” rating and issued a $171.00 price objective on shares of Canadian Pacific Railway Limited in a report on Friday, April 7th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $180.00 price objective (up from $165.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 14th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $187.56.
Shares of Canadian Pacific Railway Limited (NYSE CP) opened at 162.16 on Friday. The firm’s 50 day moving average price is $159.20 and its 200-day moving average price is $152.86. Canadian Pacific Railway Limited has a 1-year low of $139.29 and a 1-year high of $167.52. The company has a market capitalization of $23.79 billion, a P/E ratio of 20.64 and a beta of 1.11.
A number of institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC increased its position in shares of Canadian Pacific Railway Limited by 96.3% in the fourth quarter. Guggenheim Capital LLC now owns 6,520 shares of the transportation company’s stock worth $930,000 after buying an additional 3,198 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Canadian Pacific Railway Limited by 804.3% in the fourth quarter. AQR Capital Management LLC now owns 25,447 shares of the transportation company’s stock worth $3,635,000 after buying an additional 22,633 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Canadian Pacific Railway Limited during the fourth quarter worth about $2,391,000. Park National Corp OH increased its position in shares of Canadian Pacific Railway Limited by 15.1% in the first quarter. Park National Corp OH now owns 1,834 shares of the transportation company’s stock worth $269,000 after buying an additional 241 shares in the last quarter. Finally, Rathbone Brothers plc increased its position in shares of Canadian Pacific Railway Limited by 5.5% in the first quarter. Rathbone Brothers plc now owns 5,762 shares of the transportation company’s stock worth $844,000 after buying an additional 300 shares in the last quarter. Institutional investors own 70.18% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a dividend of $0.4411 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.09%. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio is currently 19.88%.
Canadian Pacific Railway Limited declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 10th that allows the company to buyback 4,380,000 outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
About Canadian Pacific Railway Limited
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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