Canadian Pacific Railway Limited to Post Q3 2018 Earnings of $3.16 Per Share, Desjardins Forecasts (CP)
Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Research analysts at Desjardins increased their Q3 2018 earnings estimates for Canadian Pacific Railway in a research note issued on Monday, October 8th. Desjardins analyst B. Poirier now forecasts that the transportation company will earn $3.16 per share for the quarter, up from their previous forecast of $2.79. Desjardins also issued estimates for Canadian Pacific Railway’s FY2020 earnings at $13.61 EPS and FY2021 earnings at $15.05 EPS.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, July 18th. The transportation company reported $3.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.76. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Canadian Pacific Railway had a net margin of 33.92% and a return on equity of 27.87%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.77 EPS.
CP opened at $207.39 on Thursday. The stock has a market capitalization of $30.22 billion, a PE ratio of 23.53, a P/E/G ratio of 1.78 and a beta of 1.07. Canadian Pacific Railway has a 1-year low of $166.36 and a 1-year high of $224.19. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.21.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Friday, September 28th will be paid a $0.4999 dividend. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, September 27th. Canadian Pacific Railway’s dividend payout ratio is currently 22.89%.
Large investors have recently modified their holdings of the company. Korea Investment CORP lifted its stake in shares of Canadian Pacific Railway by 18.1% in the 2nd quarter. Korea Investment CORP now owns 71,163 shares of the transportation company’s stock worth $13,033,000 after acquiring an additional 10,900 shares during the period. Private Advisor Group LLC bought a new stake in shares of Canadian Pacific Railway in the 2nd quarter worth approximately $370,000. Fiera Capital Corp raised its holdings in shares of Canadian Pacific Railway by 30.9% in the 2nd quarter. Fiera Capital Corp now owns 924,876 shares of the transportation company’s stock worth $169,510,000 after purchasing an additional 218,248 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Canadian Pacific Railway by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 693,120 shares of the transportation company’s stock worth $126,937,000 after purchasing an additional 12,013 shares in the last quarter. Finally, Natixis bought a new stake in shares of Canadian Pacific Railway in the 2nd quarter worth approximately $348,000. 65.08% of the stock is owned by institutional investors.
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 transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.
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