Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) - Investment analysts at Cormark decreased their Q3 2017 earnings per share (EPS) estimates for Canadian Pacific Railway Limited in a research note issued to investors on Thursday. Cormark analyst D. Tyerman now forecasts that the transportation company will post earnings of $2.47 per share for the quarter, down from their previous forecast of $2.50. Cormark also issued estimates for Canadian Pacific Railway Limited’s Q2 2018 earnings at $2.39 EPS, FY2018 earnings at $9.77 EPS, FY2019 earnings at $11.02 EPS, FY2020 earnings at $12.36 EPS and FY2021 earnings at $13.87 EPS.
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Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 target price on the stock in a research note on Wednesday, July 12th. BidaskClub downgraded Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating in a research note on Monday. Cowen and Company reiterated an “outperform” rating and set a $172.00 target price (down from $173.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, April 23rd. Barclays PLC reiterated an “overweight” rating and set a $174.00 target price (down from $177.00) on shares of Canadian Pacific Railway Limited in a research note on Saturday, April 22nd. Finally, Loop Capital downgraded Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating and dropped their price target for the stock from $157.34 to $119.50 in a research note on Friday, April 21st. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Canadian Pacific Railway Limited presently has an average rating of “Buy” and a consensus target price of $187.16.
Shares of Canadian Pacific Railway Limited (NYSE:CP) opened at 159.74 on Monday. Canadian Pacific Railway Limited has a one year low of $139.29 and a one year high of $167.52. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 18.12 and a beta of 1.10. The company’s 50-day moving average price is $159.33 and its 200-day moving average price is $153.15.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be issued a $0.4411 dividend. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is currently 19.88%.
Canadian Pacific Railway Limited announced that its board has approved a share buyback plan on Wednesday, May 10th that allows the company to buyback 4,380,000 outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in the company. Causeway Capital Management LLC acquired a new stake in Canadian Pacific Railway Limited during the first quarter worth approximately $662,274,000. OppenheimerFunds Inc. boosted its stake in Canadian Pacific Railway Limited by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 2,505,015 shares of the transportation company’s stock worth $368,038,000 after buying an additional 647,669 shares in the last quarter. Thornburg Investment Management Inc. boosted its stake in Canadian Pacific Railway Limited by 54.3% in the first quarter. Thornburg Investment Management Inc. now owns 1,295,958 shares of the transportation company’s stock worth $190,402,000 after buying an additional 456,122 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Canadian Pacific Railway Limited by 77.5% in the first quarter. Renaissance Technologies LLC now owns 835,800 shares of the transportation company’s stock worth $122,796,000 after buying an additional 364,800 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Canadian Pacific Railway Limited by 11.6% in the first quarter. TD Asset Management Inc. now owns 3,507,764 shares of the transportation company’s stock worth $513,822,000 after buying an additional 364,220 shares in the last quarter. 70.20% of the stock is currently owned by institutional investors.
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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