Bank of America set a $240.00 target price on Canadian Pacific Railway (NYSE:CP) (TSE:CP) in a research note released on Tuesday, TipRanks reports. The firm currently has a buy rating on the transportation company’s stock.
Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group began coverage on Canadian Pacific Railway in a research report on Wednesday, July 10th. They issued a neutral rating and a $253.00 price target on the stock. Argus boosted their price target on Canadian Pacific Railway to $265.00 and gave the company a buy rating in a research report on Thursday, July 18th. Wolfe Research cut Canadian Pacific Railway from an outperform rating to a peer perform rating in a research report on Friday, June 28th. Loop Capital cut Canadian Pacific Railway from a buy rating to a hold rating in a research report on Wednesday, July 10th. Finally, ValuEngine cut Canadian Pacific Railway from a buy rating to a hold rating in a research report on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $260.73.
CP stock traded up $1.95 during trading on Tuesday, hitting $216.01. The company had a trading volume of 449,625 shares, compared to its average volume of 446,412. The firm has a market cap of $30.10 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10. Canadian Pacific Railway has a 1-year low of $167.48 and a 1-year high of $247.52. The firm has a 50-day moving average price of $228.56 and a 200-day moving average price of $227.47. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 1.15.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Tuesday, July 16th. The transportation company reported $4.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $1.11. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Canadian Pacific Railway had a return on equity of 32.03% and a net margin of 30.40%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.16 EPS. Sell-side analysts anticipate that Canadian Pacific Railway will post 12.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $0.634 dividend. This represents a $2.54 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.62. Canadian Pacific Railway’s payout ratio is currently 22.41%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Veritas Asset Management LLP purchased a new stake in shares of Canadian Pacific Railway during the 2nd quarter worth approximately $410,776,000. Egerton Capital UK LLP boosted its stake in shares of Canadian Pacific Railway by 14.1% during the 2nd quarter. Egerton Capital UK LLP now owns 3,876,127 shares of the transportation company’s stock worth $911,820,000 after acquiring an additional 480,354 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Canadian Pacific Railway by 776.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 350,544 shares of the transportation company’s stock worth $82,478,000 after acquiring an additional 310,544 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Canadian Pacific Railway by 24.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,274,841 shares of the transportation company’s stock worth $298,478,000 after acquiring an additional 252,451 shares in the last quarter. Finally, National Pension Service purchased a new stake in shares of Canadian Pacific Railway during the 2nd quarter worth approximately $62,977,000. 68.02% of the stock is currently owned by institutional investors.
Canadian Pacific Railway Company Profile
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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