Canadian Pacific Railway (CP) Given New $255.00 Price Target at Credit Suisse Group

Canadian Pacific Railway (NYSE:CP) (TSE:CP) had its target price hoisted by Credit Suisse Group from $216.00 to $255.00 in a research report sent to investors on Friday, The Fly reports. The brokerage currently has an outperform rating on the transportation company’s stock.

CP has been the topic of several other research reports. ValuEngine raised Canadian Pacific Railway from a hold rating to a buy rating in a report on Tuesday, September 4th. Raymond James raised Canadian Pacific Railway from an outperform rating to a strong-buy rating in a report on Monday, July 9th. Barclays reaffirmed a buy rating and set a $235.00 price objective on shares of Canadian Pacific Railway in a report on Wednesday, September 26th. Zacks Investment Research raised Canadian Pacific Railway from a sell rating to a hold rating in a report on Tuesday, July 17th. Finally, Argus raised their price objective on Canadian Pacific Railway from $205.00 to $215.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $235.62.

NYSE:CP opened at $220.69 on Friday. The firm has a market capitalization of $30.22 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.57. Canadian Pacific Railway has a 12 month low of $164.01 and a 12 month high of $224.19.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, July 18th. The transportation company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.40 by $0.76. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Canadian Pacific Railway had a return on equity of 27.87% and a net margin of 33.92%. Canadian Pacific Railway’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.77 earnings per share. Analysts predict that Canadian Pacific Railway will post 10.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Friday, September 28th will be issued a dividend of $0.4999 per share. The ex-dividend date is Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.44. Canadian Pacific Railway’s dividend payout ratio (DPR) is currently 22.89%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CP. Wells Fargo & Company MN grew its holdings in shares of Canadian Pacific Railway by 5.7% during the first quarter. Wells Fargo & Company MN now owns 72,859 shares of the transportation company’s stock worth $12,859,000 after buying an additional 3,914 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Canadian Pacific Railway by 6.2% during the first quarter. Dimensional Fund Advisors LP now owns 40,683 shares of the transportation company’s stock worth $7,181,000 after buying an additional 2,382 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Canadian Pacific Railway by 20.2% during the first quarter. Stifel Financial Corp now owns 49,536 shares of the transportation company’s stock worth $8,758,000 after buying an additional 8,314 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Canadian Pacific Railway by 29.1% during the first quarter. MML Investors Services LLC now owns 6,176 shares of the transportation company’s stock worth $1,090,000 after buying an additional 1,391 shares during the last quarter. Finally, BB&T Securities LLC grew its holdings in shares of Canadian Pacific Railway by 18.1% during the first quarter. BB&T Securities LLC now owns 10,794 shares of the transportation company’s stock worth $1,905,000 after buying an additional 1,656 shares during the last quarter. 65.08% of the stock is currently owned by hedge funds and other institutional investors.

About Canadian Pacific Railway

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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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