Raymond James Financial Weighs in on Canadian Pacific Railway Ltd.’s Q3 2016 Earnings (CP)
Canadian Pacific Railway Ltd. (NYSE:CP) – Raymond James Financial lowered their Q3 2016 EPS estimates for shares of Canadian Pacific Railway in a note issued to investors on Monday. Raymond James Financial analyst S. Hansen now expects that the brokerage will post earnings of $2.12 per share for the quarter, down from their prior forecast of $2.18. Raymond James Financial has a “Outperform” rating on the stock. Raymond James Financial also issued estimates for Canadian Pacific Railway’s Q4 2016 earnings at $2.45 EPS, FY2016 earnings at $8.03 EPS, Q1 2017 earnings at $2.14 EPS, Q2 2017 earnings at $2.14 EPS, Q3 2017 earnings at $2.57 EPS, Q4 2017 earnings at $2.58 EPS, FY2017 earnings at $9.42 EPS and FY2018 earnings at $10.48 EPS.
A number of other research firms have also weighed in on CP. Vertical Research started coverage on shares of Canadian Pacific Railway in a research note on Tuesday, October 11th. They issued a “buy” rating on the stock. Buckingham Research reaffirmed a “buy” rating and issued a $157.00 price objective (down from $165.00) on shares of Canadian Pacific Railway in a research note on Friday, July 1st. Royal Bank Of Canada dropped their price objective on shares of Canadian Pacific Railway from $209.00 to $203.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. Cowen and Company dropped their price objective on shares of Canadian Pacific Railway from $168.00 to $166.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 22nd. Finally, Barclays PLC raised their price objective on shares of Canadian Pacific Railway from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Canadian Pacific Railway presently has an average rating of “Buy” and an average target price of $177.89.
Shares of Canadian Pacific Railway (NYSE:CP) traded up 1.56% during trading on Tuesday, reaching $152.70. The company had a trading volume of 298,145 shares. The stock has a market capitalization of $22.56 billion, a PE ratio of 20.66 and a beta of 1.32. Canadian Pacific Railway has a 12 month low of $97.09 and a 12 month high of $157.34. The stock’s 50-day moving average price is $150.83 and its 200-day moving average price is $141.79.
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A number of large investors have recently bought and sold shares of CP. Sarasin & Partners LLP raised its stake in Canadian Pacific Railway by 3.0% in the third quarter. Sarasin & Partners LLP now owns 953,621 shares of the company’s stock worth $145,618,000 after buying an additional 27,352 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in Canadian Pacific Railway during the third quarter worth approximately $1,924,000. Capstone Asset Management Co. raised its stake in Canadian Pacific Railway by 10.1% in the third quarter. Capstone Asset Management Co. now owns 15,382 shares of the company’s stock worth $2,349,000 after buying an additional 1,406 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Canadian Pacific Railway during the third quarter worth approximately $412,000. Finally, Atria Investments LLC purchased a new stake in Canadian Pacific Railway during the third quarter worth approximately $446,000. Institutional investors own 68.20% of the company’s stock.
In other news, Director Pershing Square Capital Manage sold 9,840,890 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $141.68, for a total value of $1,394,257,295.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.
Canadian Pacific Railway Company Profile
Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.
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