Canadian Pacific Railway (NYSE:CP) Cut to Outperform at Raymond James

Raymond James downgraded shares of Canadian Pacific Railway (NYSE:CP) (TSE:CP) from a strong-buy rating to an outperform rating in a research report released on Monday morning, Briefing.com Automated Import reports. Raymond James also issued estimates for Canadian Pacific Railway’s Q2 2019 earnings at $3.23 EPS, Q3 2019 earnings at $3.61 EPS, Q4 2019 earnings at $3.84 EPS, FY2019 earnings at $12.84 EPS and FY2020 earnings at $12.00 EPS.

CP has been the topic of several other research reports. Wolfe Research upgraded Covenant Transportation Group from an underperform rating to a peer perform rating in a research note on Friday, June 28th. ValuEngine upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, May 17th. National Bank Financial reiterated a sector perform spec overwgt rating on shares of Almaden Minerals in a research note on Thursday, June 27th. Zacks Investment Research lowered Guardant Health from a hold rating to a sell rating in a research note on Monday, March 18th. Finally, Goldman Sachs Group lowered EXPERIAN PLC/ADR from a buy rating to a neutral rating in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $241.19.

Canadian Pacific Railway stock opened at $244.50 on Monday. Canadian Pacific Railway has a one year low of $167.48 and a one year high of $247.52. The business’s fifty day moving average is $234.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.66 and a current ratio of 0.76. The company has a market cap of $34.44 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.66 and a beta of 1.09.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Tuesday, July 16th. The transportation company reported $4.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $1.11. Canadian Pacific Railway had a return on equity of 30.52% and a net margin of 27.45%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the company posted $3.16 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Canadian Pacific Railway will post 12.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a dividend of $0.634 per share. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.54 annualized dividend and a dividend yield of 1.04%. Canadian Pacific Railway’s dividend payout ratio (DPR) is 22.68%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CP. Norges Bank acquired a new stake in shares of Canadian Pacific Railway during the 4th quarter valued at $293,901,000. FIL Ltd lifted its holdings in Canadian Pacific Railway by 13.6% during the 1st quarter. FIL Ltd now owns 4,056,828 shares of the transportation company’s stock worth $835,864,000 after buying an additional 485,524 shares during the period. William Blair Investment Management LLC acquired a new position in Canadian Pacific Railway during the 1st quarter worth about $88,413,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Canadian Pacific Railway during the 1st quarter worth about $102,483,000. Finally, Millennium Management LLC lifted its holdings in Canadian Pacific Railway by 534.1% during the 4th quarter. Millennium Management LLC now owns 376,884 shares of the transportation company’s stock worth $66,942,000 after buying an additional 317,444 shares during the period. 67.63% of the stock is currently owned by institutional investors.

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 transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.

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Analyst Recommendations for Canadian Pacific Railway (NYSE:CP)

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