Canadian Pacific Railway Ltd. (CP) Shares Down 2.6%
Canadian Pacific Railway Ltd. (NYSE:CP)’s share price fell 2.6% during mid-day trading on Thursday . The company traded as low as $141.65 and last traded at $143.41, with a volume of 4,007,535 shares. The stock had previously closed at $147.28.
A number of equities research analysts have weighed in on the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Canadian Pacific Railway in a report on Saturday, June 4th. Cowen and Company lowered their price objective on Canadian Pacific Railway from $168.00 to $166.00 and set an “outperform” rating on the stock in a report on Wednesday, June 22nd. Royal Bank Of Canada lowered their price objective on Canadian Pacific Railway from $209.00 to $203.00 and set an “outperform” rating on the stock in a report on Thursday, June 23rd. JPMorgan Chase & Co. assumed coverage on Canadian Pacific Railway in a report on Monday, April 25th. They issued a “neutral” rating on the stock. Finally, Desjardins raised Canadian Pacific Railway from a “hold” rating to a “buy” rating and lowered their price objective for the company from $204.00 to $195.00 in a report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $177.76.
The firm has a 50 day moving average price of $137.48 and a 200 day moving average price of $132.05. The firm has a market capitalization of $21.28 billion and a PE ratio of 19.36.
Canadian Pacific Railway (NYSE:CP) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $2.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.50 by $0.45. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.57 billion. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.45 EPS. Equities analysts anticipate that Canadian Pacific Railway Ltd. will post $8.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Friday, September 30th will be given a $0.3858 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.54 annualized dividend and a dividend yield of 1.07%. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.27.
In related news, Director Pershing Square Capital Manage sold 9,840,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $141.68, for a total value of $1,394,257,295.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of large investors recently added to or reduced their stakes in CP. Dimensional Fund Advisors LP increased its stake in Canadian Pacific Railway by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,875 shares of the company’s stock worth $3,174,000 after buying an additional 2,025 shares during the last quarter. Trexquant Investment LP increased its stake in Canadian Pacific Railway by 58.8% in the fourth quarter. Trexquant Investment LP now owns 19,500 shares of the company’s stock worth $2,488,000 after buying an additional 7,219 shares during the last quarter. US Bancorp DE increased its stake in Canadian Pacific Railway by 0.4% in the fourth quarter. US Bancorp DE now owns 16,401 shares of the company’s stock worth $2,093,000 after buying an additional 64 shares during the last quarter. Alpine Woods Capital Investors LLC increased its stake in Canadian Pacific Railway by 2.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 130,400 shares of the company’s stock worth $16,639,000 after buying an additional 3,600 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Canadian Pacific Railway by 72.1% in the fourth quarter. Suntrust Banks Inc. now owns 19,908 shares of the company’s stock worth $2,540,000 after buying an additional 8,341 shares during the last quarter.
Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.
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