Canadian Pacific Railway Limited (CP) to Issue $0.44 Quarterly Dividend
Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) declared a quarterly dividend on Wednesday, November 22nd, Zacks reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.44 per share by the transportation company on Monday, January 29th. This represents a $1.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, December 28th.
Canadian Pacific Railway Limited has increased its dividend by an average of 7.9% per year over the last three years. Canadian Pacific Railway Limited has a dividend payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Canadian Pacific Railway Limited to earn $10.27 per share next year, which means the company should continue to be able to cover its $1.82 annual dividend with an expected future payout ratio of 17.7%.
Canadian Pacific Railway Limited (NYSE CP) traded up $3.10 during trading on Thursday, hitting $173.60. 444,600 shares of the stock traded hands, compared to its average volume of 654,720. The company has a quick ratio of 0.44, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $25,640.00, a PE ratio of 19.94, a PEG ratio of 1.62 and a beta of 1.21. Canadian Pacific Railway Limited has a twelve month low of $141.32 and a twelve month high of $179.17.
Several research analysts have recently issued reports on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Canadian Pacific Railway Limited in a report on Monday, November 13th. They issued a “neutral” rating and a $178.00 price objective for the company. Deutsche Bank AG started coverage on shares of Canadian Pacific Railway Limited in a report on Wednesday, November 1st. They issued a “buy” rating and a $209.00 price objective for the company. Argus raised their target price on shares of Canadian Pacific Railway Limited from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Morgan Stanley raised their target price on shares of Canadian Pacific Railway Limited from $214.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $238.00 target price on shares of Canadian Pacific Railway Limited in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $191.19.
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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.
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