Cormark Equities Analysts Boost Earnings Estimates for Canadian Pacific Railway Limited (CP)

Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Stock analysts at Cormark lifted their FY2017 earnings estimates for Canadian Pacific Railway Limited in a research report issued to clients and investors on Thursday. Cormark analyst D. Tyerman now anticipates that the transportation company will earn $9.14 per share for the year, up from their prior estimate of $9.09. Cormark also issued estimates for Canadian Pacific Railway Limited’s Q4 2017 earnings at $2.50 EPS, Q1 2018 earnings at $1.99 EPS, Q3 2018 earnings at $2.69 EPS and Q4 2018 earnings at $2.71 EPS.

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CP has been the topic of a number of other research reports. Credit Suisse Group AG reiterated a “buy” rating and issued a $171.00 price target on shares of Canadian Pacific Railway Limited in a research note on Friday, April 7th. Stifel Nicolaus upped their price target on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Citigroup Inc. reiterated a “buy” rating and issued a $180.00 price target (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 14th. BidaskClub upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Zacks Investment Research upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a research note on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Canadian Pacific Railway Limited currently has a consensus rating of “Buy” and an average price target of $187.56.

Shares of Canadian Pacific Railway Limited (NYSE CP) opened at 162.16 on Friday. Canadian Pacific Railway Limited has a one year low of $139.29 and a one year high of $167.52. The stock has a market cap of $23.79 billion, a P/E ratio of 20.64 and a beta of 1.11. The stock has a 50 day moving average of $159.20 and a 200 day moving average of $152.86.

Canadian Pacific Railway Limited announced that its board has approved a stock buyback plan on Wednesday, May 10th that allows the company to buyback 4,380,000 shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a dividend of $0.4411 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.76 annualized dividend and a dividend yield of 1.09%. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio is presently 19.88%.

Several large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in Canadian Pacific Railway Limited by 37.0% in the first quarter. Parallel Advisors LLC now owns 870 shares of the transportation company’s stock valued at $134,000 after buying an additional 235 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Canadian Pacific Railway Limited by 3.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,135 shares of the transportation company’s stock valued at $166,000 after buying an additional 35 shares during the last quarter. Schafer Cullen Capital Management Inc. acquired a new stake in Canadian Pacific Railway Limited during the first quarter valued at approximately $201,000. Atria Investments LLC acquired a new stake in Canadian Pacific Railway Limited during the second quarter valued at approximately $221,000. Finally, BB&T Corp acquired a new stake in Canadian Pacific Railway Limited during the first quarter valued at approximately $225,000. 70.18% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Canadian Pacific Railway Limited (NYSE:CP)




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