Canadian Pacific Railway (CP) Reaches New 1-Year High After Dividend Announcement

Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP)’s share price reached a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as C$235.19 and last traded at C$235.04, with a volume of 336738 shares changing hands. The stock had previously closed at C$230.12.

The newly announced dividend which will be paid on Monday, April 30th. Shareholders of record on Friday, March 23rd will be issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 0.97%. Canadian Pacific Railway’s payout ratio is 12.91%.

A number of equities research analysts have commented on CP shares. National Bank Financial raised their price target on shares of Canadian Pacific Railway from C$226.00 to C$244.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 13th. BMO Capital Markets raised their price target on shares of Canadian Pacific Railway from C$245.00 to C$250.00 in a report on Friday, December 1st. JPMorgan Chase & Co. raised their price target on shares of Canadian Pacific Railway from C$272.00 to C$276.00 in a report on Thursday, January 11th. CIBC raised their price objective on shares of Canadian Pacific Railway from C$233.00 to C$255.00 in a research note on Thursday, January 4th. Finally, Raymond James Financial raised their price objective on shares of Canadian Pacific Railway from C$245.00 to C$255.00 in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of C$249.54.

The firm has a market capitalization of $33,940.00, a P/E ratio of 14.15 and a beta of 0.70.

Canadian Pacific Railway (TSE:CP) (NYSE:CP) last released its quarterly earnings data on Thursday, January 18th. The company reported C$3.22 earnings per share for the quarter, beating analysts’ consensus estimates of C$3.20 by C$0.02. Canadian Pacific Railway had a net margin of 31.97% and a return on equity of 37.54%. The firm had revenue of C$1.71 billion for the quarter, compared to analyst estimates of C$1.71 billion.

In related news, insider James Dominic Luther Clements sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of C$230.21, for a total transaction of C$230,210.00. Also, insider John Kenneth Brooks sold 600 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of C$229.35, for a total transaction of C$137,610.00.

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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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