Analysts Anticipate Canadian Pacific Railway Ltd (NYSE:CP) Will Post Quarterly Sales of $1.50 Billion

Brokerages expect Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) to post sales of $1.50 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Canadian Pacific Railway’s earnings, with the lowest sales estimate coming in at $1.49 billion and the highest estimate coming in at $1.52 billion. Canadian Pacific Railway posted sales of $1.45 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, October 23rd.

On average, analysts expect that Canadian Pacific Railway will report full year sales of $5.90 billion for the current financial year, with estimates ranging from $5.85 billion to $5.96 billion. For the next financial year, analysts anticipate that the firm will post sales of $6.26 billion, with estimates ranging from $6.16 billion to $6.37 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Canadian Pacific Railway.

A number of analysts have recently issued reports on the stock. National Bank Financial set a $328.00 target price on shares of Canadian Pacific Railway and gave the stock a “hold” rating in a research note on Friday, September 27th. UBS Group lowered their price target on shares of Canadian Pacific Railway from $349.00 to $346.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. CIBC set a $327.00 price target on shares of Canadian Pacific Railway and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Cowen reaffirmed a “buy” rating and set a $258.00 price target on shares of Canadian Pacific Railway in a research report on Tuesday, July 16th. Finally, Deutsche Bank raised their price target on shares of Canadian Pacific Railway from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Canadian Pacific Railway currently has an average rating of “Buy” and a consensus target price of $261.79.

Shares of NYSE CP traded down $0.24 during mid-day trading on Friday, reaching $219.49. 386,800 shares of the company were exchanged, compared to its average volume of 443,442. The company’s 50-day simple moving average is $223.76 and its 200-day simple moving average is $228.23. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $30.43 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.62 and a beta of 1.10. Canadian Pacific Railway has a twelve month low of $167.48 and a twelve month high of $247.52.

Several institutional investors have recently made changes to their positions in the stock. Veritas Asset Management LLP acquired a new stake in Canadian Pacific Railway during the 2nd quarter worth approximately $410,776,000. Egerton Capital UK LLP lifted its position in shares of Canadian Pacific Railway by 14.1% in the 2nd quarter. Egerton Capital UK LLP now owns 3,876,127 shares of the transportation company’s stock worth $911,820,000 after purchasing an additional 480,354 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Canadian Pacific Railway by 776.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 350,544 shares of the transportation company’s stock worth $82,478,000 after purchasing an additional 310,544 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Canadian Pacific Railway by 24.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,274,841 shares of the transportation company’s stock worth $298,478,000 after purchasing an additional 252,451 shares during the period. Finally, National Pension Service acquired a new position in shares of Canadian Pacific Railway in the 2nd quarter worth approximately $62,977,000. 68.01% of the stock is currently owned by 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 energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.

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Earnings History and Estimates for Canadian Pacific Railway (NYSE:CP)

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