National Bank Financial Lowers Canadian Pacific Railway Limited (CP) to Sector Perform

National Bank Financial lowered shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) from an outperform rating to a sector perform rating in a research note released on Wednesday morning, Marketbeat Ratings reports. National Bank Financial currently has $207.00 price target on the transportation company’s stock, down from their prior price target of $219.00. National Bank Financial also issued estimates for Canadian Pacific Railway Limited’s Q3 2017 earnings at $2.31 EPS, Q4 2017 earnings at $2.50 EPS, FY2017 earnings at $9.13 EPS, Q1 2018 earnings at $2.28 EPS, Q2 2018 earnings at $2.42 EPS, Q3 2018 earnings at $2.50 EPS, Q4 2018 earnings at $2.79 EPS and FY2018 earnings at $9.99 EPS.

Several other brokerages have also issued reports on CP. Credit Suisse Group reissued an outperform rating and issued a $183.00 price target (up previously from $178.00) on shares of Canadian Pacific Railway Limited in a report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price target on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a buy rating in a report on Tuesday, July 11th. Bank of America Corporation boosted their price target on shares of Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the company a buy rating in a report on Thursday, July 20th. Wells Fargo & Company reissued an outperform rating and issued a $180.00 price target (up previously from $175.00) on shares of Canadian Pacific Railway Limited in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reissued an outperform rating on shares of Canadian Pacific Railway Limited in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Canadian Pacific Railway Limited currently has a consensus rating of Buy and an average price target of $188.35.

Canadian Pacific Railway Limited (CP) opened at 158.79 on Wednesday. The company has a market capitalization of $23.20 billion, a P/E ratio of 18.07 and a beta of 1.09. The stock has a 50 day moving average of $155.48 and a 200-day moving average of $154.72. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52.

COPYRIGHT VIOLATION WARNING: This news story was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.chaffeybreeze.com/2017/09/16/national-bank-financial-lowers-canadian-pacific-railway-limited-cp-to-sector-perform.html.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be given a dividend of $0.4411 per share. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 28th. This represents a $1.76 annualized dividend and a yield of 1.11%. Canadian Pacific Railway Limited’s dividend payout ratio is 19.88%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership lifted its position in Canadian Pacific Railway Limited by 2.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 6,018,329 shares of the transportation company’s stock worth $967,807,000 after buying an additional 125,306 shares in the last quarter. Causeway Capital Management LLC acquired a new position in Canadian Pacific Railway Limited during the 1st quarter valued at about $662,274,000. WCM Investment Management CA lifted its position in Canadian Pacific Railway Limited by 6.4% during the 2nd quarter. WCM Investment Management CA now owns 3,732,988 shares of the transportation company’s stock valued at $600,302,000 after purchasing an additional 223,142 shares during the period. TD Asset Management Inc. lifted its position in Canadian Pacific Railway Limited by 6.0% during the 2nd quarter. TD Asset Management Inc. now owns 3,719,943 shares of the transportation company’s stock valued at $597,654,000 after purchasing an additional 212,179 shares during the period. Finally, Vanguard Group Inc. lifted its position in Canadian Pacific Railway Limited by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,225,817 shares of the transportation company’s stock valued at $518,743,000 after purchasing an additional 145,603 shares during the period. Institutional investors and hedge funds own 65.89% of the company’s stock.

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.

Analyst Recommendations for Canadian Pacific Railway Limited (NYSE:CP)

Receive News & Ratings for Canadian Pacific Railway Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply