National Bank Financial Comments on Canadian Pacific Railway Limited’s Q2 2018 Earnings (CP)
Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Investment analysts at National Bank Financial upped their Q2 2018 earnings per share estimates for shares of Canadian Pacific Railway in a research note issued to investors on Tuesday. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will earn $2.46 per share for the quarter, up from their previous estimate of $2.42. National Bank Financial has a “Sector Perform” rating and a $207.00 price target on the stock. National Bank Financial also issued estimates for Canadian Pacific Railway’s Q3 2018 earnings at $2.36 EPS, FY2018 earnings at $9.86 EPS and FY2019 earnings at $10.58 EPS.
A number of other research firms have also commented on CP. Loop Capital upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of Canadian Pacific Railway from $214.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. BMO Capital Markets restated a “buy” rating and issued a $238.00 price target on shares of Canadian Pacific Railway in a research report on Wednesday, October 18th. BidaskClub lowered shares of Canadian Pacific Railway from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Argus lifted their price target on shares of Canadian Pacific Railway from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. 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. The stock has an average rating of “Buy” and an average target price of $191.19.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Friday, December 29th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, December 28th. Canadian Pacific Railway’s dividend payout ratio is 18.62%.
Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new position in Canadian Pacific Railway in the 2nd quarter worth approximately $130,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Canadian Pacific Railway by 23.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 876 shares of the transportation company’s stock valued at $141,000 after buying an additional 167 shares during the period. Parallel Advisors LLC boosted its stake in shares of Canadian Pacific Railway by 13.0% during the 2nd quarter. Parallel Advisors LLC now owns 983 shares of the transportation company’s stock valued at $154,000 after buying an additional 113 shares during the period. Boston Private Wealth LLC acquired a new stake in shares of Canadian Pacific Railway during the 3rd quarter valued at $203,000. Finally, FineMark National Bank & Trust acquired a new stake in shares of Canadian Pacific Railway during the 3rd quarter valued at $208,000. 67.56% of the stock is owned by hedge funds and other institutional investors.
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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 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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