Cowen and Company reaffirmed their buy rating on shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) in a report published on Friday. The firm currently has a $172.00 price objective on the transportation company’s stock.

A number of other analysts have also recently weighed in on the stock. BidaskClub raised shares of Canadian Pacific Railway Limited from a hold rating to a buy rating in a research note on Saturday, July 1st. Loop Capital reduced their price objective on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Wells Fargo & Company restated an outperform rating and issued a $180.00 target price (up previously from $175.00) on shares of Canadian Pacific Railway Limited in a report on Saturday, July 22nd. Credit Suisse Group restated an outperform rating and issued a $178.00 target price (up previously from $171.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 28th. Finally, Citigroup Inc. restated a buy rating and issued a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $187.37.

Shares of Canadian Pacific Railway Limited (CP) opened at 156.37 on Friday. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52. The company has a market capitalization of $22.84 billion, a price-to-earnings ratio of 17.68 and a beta of 1.10. The company’s 50-day moving average price is $159.69 and its 200-day moving average price is $153.54.

COPYRIGHT VIOLATION WARNING: This article was posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.watchlistnews.com/canadian-pacific-railway-limited-cp-earns-buy-rating-from-cowen-and-company/1465023.html.

Canadian Pacific Railway Limited declared that its board has authorized a share buyback plan on Wednesday, May 10th that authorizes the company to buyback 4,380,000 shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced 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. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio is currently 19.88%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Causeway Capital Management LLC purchased a new stake in Canadian Pacific Railway Limited during the first quarter valued at about $662,274,000. WCM Investment Management CA boosted its stake in Canadian Pacific Railway Limited by 5.1% in the first quarter. WCM Investment Management CA now owns 3,509,846 shares of the transportation company’s stock valued at $515,667,000 after buying an additional 169,647 shares in the last quarter. TD Asset Management Inc. boosted its stake in Canadian Pacific Railway Limited by 11.6% in the first quarter. TD Asset Management Inc. now owns 3,507,764 shares of the transportation company’s stock valued at $513,822,000 after buying an additional 364,220 shares in the last quarter. Vanguard Group Inc. boosted its stake in Canadian Pacific Railway Limited by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,080,214 shares of the transportation company’s stock valued at $452,545,000 after buying an additional 146,826 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Canadian Pacific Railway Limited by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 2,505,015 shares of the transportation company’s stock valued at $368,038,000 after buying an additional 647,669 shares in the last quarter. 70.55% of the stock is owned by institutional investors.

Canadian Pacific Railway Limited 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.

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 Analyst Ratings Network's FREE daily email newsletter.