Canadian Pacific Railway (CP) Sets New 12-Month High After Dividend Announcement

Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP)’s share price reached a new 52-week high on Friday after the company announced a dividend. The company traded as high as C$235.19 and last traded at C$235.04, with a volume of 336738 shares trading hands. The stock had previously closed at C$230.12.

The newly announced dividend which will be paid on Monday, April 30th. Shareholders of record on Friday, March 23rd will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 0.97%. Canadian Pacific Railway’s dividend payout ratio is presently 12.91%.

A number of equities analysts have weighed in on CP shares. BMO Capital Markets restated an “outperform” rating and set a C$245.00 price objective on shares of Canadian Pacific Railway in a research report on Thursday, November 9th. National Bank Financial upped their price objective on shares of Canadian Pacific Railway from C$226.00 to C$244.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 13th. CIBC upped their price objective on shares of Canadian Pacific Railway from C$233.00 to C$255.00 in a research report on Thursday, January 4th. JPMorgan Chase & Co. upped their price objective on shares of Canadian Pacific Railway from C$272.00 to C$276.00 in a research report on Thursday, January 11th. Finally, Macquarie set a C$250.00 price objective on shares of Canadian Pacific Railway and gave the stock an “outperform” rating in a research report on Friday, January 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of C$249.54.

The company has a market capitalization of $33,940.00, a PE ratio of 14.15 and a beta of 0.70.

Canadian Pacific Railway (TSE:CP) (NYSE:CP) last issued its earnings results on Thursday, January 18th. The company reported C$3.22 EPS for the quarter, beating the Zacks’ consensus estimate of C$3.20 by C$0.02. The business had revenue of C$1.71 billion during the quarter, compared to analysts’ expectations of C$1.71 billion. Canadian Pacific Railway had a net margin of 31.97% and a return on equity of 37.54%.

In related news, insider James Dominic Luther Clements sold 1,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of C$230.21, for a total value of C$230,210.00. Also, insider John Kenneth Brooks sold 600 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of C$229.35, for a total transaction of C$137,610.00.

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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 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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