Canadian Pacific Railway Limited (NYSE:CP) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) from a buy rating to a hold rating in a research note published on Monday, July 24th.

Other research analysts have also issued reports about the stock. Loop Capital dropped their price objective on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Bank of America Corporation raised their price objective on shares of Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the company a buy rating in a research note on Thursday, July 20th. Royal Bank Of Canada reaffirmed an outperform rating on shares of Canadian Pacific Railway Limited in a research note on Thursday, July 20th. Credit Suisse Group reaffirmed an outperform rating and issued a $178.00 price objective (up from $171.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 28th. Finally, Cowen and Company reaffirmed an outperform rating and issued a $172.00 price objective (down from $173.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company. Canadian Pacific Railway Limited presently has a consensus rating of Buy and a consensus target price of $187.37.

Canadian Pacific Railway Limited (NYSE:CP) traded down 0.24% during midday trading on Monday, reaching $155.49. 547,363 shares of the company traded hands. Canadian Pacific Railway Limited has a 12-month low of $139.29 and a 12-month high of $167.52. The company has a 50 day moving average of $159.73 and a 200-day moving average of $153.60. The stock has a market capitalization of $22.71 billion, a P/E ratio of 17.58 and a beta of 1.09.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be issued a dividend of $0.4411 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is 19.88%.

Canadian Pacific Railway Limited declared that its board has authorized a stock repurchase program on Wednesday, May 10th that allows the company to repurchase 4,380,000 shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the company. Causeway Capital Management LLC acquired a new position in Canadian Pacific Railway Limited during the first quarter valued at $662,274,000. WCM Investment Management CA increased its position in Canadian Pacific Railway Limited by 6.4% in the second quarter. WCM Investment Management CA now owns 3,732,988 shares of the transportation company’s stock valued at $600,302,000 after buying an additional 223,142 shares during the last quarter. TD Asset Management Inc. increased its position in Canadian Pacific Railway Limited by 6.0% in the second quarter. TD Asset Management Inc. now owns 3,719,943 shares of the transportation company’s stock valued at $597,654,000 after buying an additional 212,179 shares during the last quarter. Vanguard Group Inc. increased its position in Canadian Pacific Railway Limited by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,080,214 shares of the transportation company’s stock valued at $452,545,000 after buying an additional 146,826 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position 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 valued at $368,038,000 after buying an additional 647,669 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

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.