Argus Raises Canadian Pacific Railway (NYSE:CP) Price Target to $265.00

Canadian Pacific Railway (NYSE:CP) (TSE:CP) had its target price hoisted by Argus to $265.00 in a report issued on Thursday, The Fly reports. Argus currently has a buy rating on the transportation company’s stock.

Several other research analysts have also commented on the stock. Raymond James lowered shares of RioCan Real Estate Investment Trust to a hold rating in a report on Monday, July 15th. Citigroup set a $20.00 price target on shares of Compania de Minas Buenaventura SAA and gave the company a buy rating in a report on Thursday, April 4th. Macquarie set a $52.00 price target on shares of Southwest Airlines and gave the company a hold rating in a report on Thursday, March 28th. Loop Capital lowered shares of CSX from a buy rating to a hold rating and cut their price target for the company from $85.00 to $81.00 in a report on Wednesday, July 10th. Finally, Desjardins lowered shares of Canadian Pacific Railway from a buy rating to a hold rating in a report on Friday, April 12th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $242.62.

NYSE CP opened at $237.82 on Thursday. Canadian Pacific Railway has a one year low of $167.48 and a one year high of $247.52. The firm has a 50 day simple moving average of $234.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.66. The stock has a market capitalization of $33.26 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.09.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Tuesday, July 16th. The transportation company reported $4.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $1.11. Canadian Pacific Railway had a net margin of 30.40% and a return on equity of 32.03%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $3.16 earnings per share. Canadian Pacific Railway’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian Pacific Railway will post 12.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.634 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.54 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.62. Canadian Pacific Railway’s dividend payout ratio (DPR) is currently 22.68%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FIL Ltd raised its stake in shares of Canadian Pacific Railway by 13.6% during the first quarter. FIL Ltd now owns 4,056,828 shares of the transportation company’s stock valued at $835,864,000 after purchasing an additional 485,524 shares during the period. TD Asset Management Inc. grew its position in shares of Canadian Pacific Railway by 0.5% during the first quarter. TD Asset Management Inc. now owns 3,508,765 shares of the transportation company’s stock worth $723,153,000 after buying an additional 18,425 shares in the last quarter. Egerton Capital UK LLP grew its position in shares of Canadian Pacific Railway by 8.1% during the first quarter. Egerton Capital UK LLP now owns 3,395,773 shares of the transportation company’s stock worth $699,631,000 after buying an additional 254,877 shares in the last quarter. Bank of Montreal Can grew its position in shares of Canadian Pacific Railway by 0.5% during the first quarter. Bank of Montreal Can now owns 3,141,406 shares of the transportation company’s stock worth $647,223,000 after buying an additional 15,826 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Canadian Pacific Railway by 4.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,915,566 shares of the transportation company’s stock worth $394,664,000 after buying an additional 86,085 shares in the last quarter. Institutional investors own 67.63% of the company’s stock.

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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