Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Seaport Global Securities cut their FY2017 earnings per share (EPS) estimates for Canadian Pacific Railway in a report issued on Friday, Zacks Investment Research reports. Seaport Global Securities analyst M. Levin now expects that the transportation company will post earnings per share of $8.84 for the year, down from their prior estimate of $9.10. Seaport Global Securities also issued estimates for Canadian Pacific Railway’s Q4 2017 earnings at $2.48 EPS, FY2018 earnings at $10.05 EPS and FY2019 earnings at $11.41 EPS.
Several other brokerages have also recently weighed in on CP. JPMorgan Chase & Co. raised shares of Canadian Pacific Railway from a “neutral” rating to an “overweight” rating in a research note on Thursday, October 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $184.00 price objective on shares of Canadian Pacific Railway in a research note on Thursday, September 21st. Cowen upped their price objective on shares of Canadian Pacific Railway from $182.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Goldman Sachs Group began coverage on shares of Canadian Pacific Railway in a research note on Monday, November 13th. They set a “neutral” rating and a $178.00 price objective on the stock. Finally, Deutsche Bank began coverage on shares of Canadian Pacific Railway in a research note on Wednesday, November 1st. They set a “buy” rating and a $209.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Canadian Pacific Railway currently has a consensus rating of “Buy” and an average price target of $191.19.
Canadian Pacific Railway (NYSE:CP) traded up $3.83 during midday trading on Monday, reaching $183.57. 748,900 shares of the company were exchanged, compared to its average volume of 452,836. The company has a market capitalization of $26,610.00, a PE ratio of 18.71, a P/E/G ratio of 1.51 and a beta of 1.20. Canadian Pacific Railway has a twelve month low of $143.20 and a twelve month high of $187.42. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.44 and a current ratio of 0.53.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 29th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.96%. Canadian Pacific Railway’s payout ratio is 17.94%.
Hedge funds have recently made changes to their positions in the company. TD Asset Management Inc. lifted its position in shares of Canadian Pacific Railway by 5.7% during the third quarter. TD Asset Management Inc. now owns 3,932,999 shares of the transportation company’s stock worth $659,089,000 after purchasing an additional 213,056 shares in the last quarter. Swiss National Bank lifted its holdings in Canadian Pacific Railway by 0.4% in the second quarter. Swiss National Bank now owns 565,300 shares of the transportation company’s stock valued at $90,969,000 after buying an additional 2,500 shares during the period. CIBC World Markets Inc. lifted its holdings in Canadian Pacific Railway by 0.7% in the second quarter. CIBC World Markets Inc. now owns 1,854,390 shares of the transportation company’s stock valued at $298,204,000 after buying an additional 13,562 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Canadian Pacific Railway by 62,170.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 934,062 shares of the transportation company’s stock valued at $150,200,000 after buying an additional 932,562 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Canadian Pacific Railway by 22.2% in the third quarter. CIBC Asset Management Inc now owns 2,678,780 shares of the transportation company’s stock valued at $448,756,000 after buying an additional 486,845 shares during the period. Institutional investors own 67.52% of the company’s stock.
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About Canadian Pacific Railway
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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