Canadian Pacific Railway Limited (CP) Downgraded by National Bank Financial
National Bank Financial cut shares of Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP) from an overweight rating to a sector perform rating in a research report sent to investors on Wednesday. The firm currently has C$207.00 price target on the stock, down from their prior price target of C$219.00. National Bank Financial also issued estimates for Canadian Pacific Railway Limited’s Q3 2017 earnings at $2.82 EPS, Q4 2017 earnings at $3.05 EPS, FY2017 earnings at $11.14 EPS, Q1 2018 earnings at $2.78 EPS, Q2 2018 earnings at $2.95 EPS, Q3 2018 earnings at $3.05 EPS, Q4 2018 earnings at $3.40 EPS and FY2018 earnings at $12.18 EPS.
Other equities analysts have also issued research reports about the company. CIBC increased their price target on Canadian Pacific Railway Limited from C$220.00 to C$222.00 in a research report on Thursday, July 6th. Royal Bank Of Canada raised their price objective on Canadian Pacific Railway Limited from C$227.00 to C$229.00 and gave the stock an outperform rating in a research report on Thursday, July 20th. Finally, Scotiabank decreased their price objective on Canadian Pacific Railway Limited from C$225.00 to C$220.00 and set an outperform rating for the company in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Canadian Pacific Railway Limited presently has an average rating of Buy and an average target price of C$214.54.
Canadian Pacific Railway Limited (TSE:CP) opened at 193.40 on Wednesday. The firm has a 50-day moving average of $194.01 and a 200-day moving average of $202.64. The stock has a market capitalization of $28.25 billion and a price-to-earnings ratio of 17.35. Canadian Pacific Railway Limited has a 12-month low of $186.21 and a 12-month high of $218.78.
Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP) last released its quarterly earnings results on Wednesday, July 19th. The company reported C$2.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$2.69 by C$0.08. Canadian Pacific Railway Limited had a return on equity of 37.13% and a net margin of 29.21%. The business had revenue of C$1.64 billion during the quarter, compared to analyst estimates of C$1.62 billion. Equities research analysts forecast that Canadian Pacific Railway Limited will post $11.50 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.5625 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.25 annualized dividend and a dividend yield of 1.16%.
In other news, insider Laird Joseph Pitz sold 609 shares of Canadian Pacific Railway Limited stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of C$157.51, for a total transaction of C$95,923.59. Also, insider Steven Nettleton sold 436 shares of Canadian Pacific Railway Limited stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of C$155.68, for a total value of C$67,876.48. Over the last quarter, insiders have sold 1,250 shares of company stock valued at $197,881.
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.
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