Canadian Pacific Railway Ltd. (CP) Releases Quarterly Earnings Results
Canadian Pacific Railway Ltd. (NYSE:CP) posted its earnings results on Wednesday. The company reported $2.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.79 by $0.06. Canadian Pacific Railway had a return on equity of 32.47% and a net margin of 23.36%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business earned $2.69 EPS. Canadian Pacific Railway’s quarterly revenue was down 9.1% compared to the same quarter last year.
Canadian Pacific Railway (NYSE:CP) opened at 150.36 on Thursday. Canadian Pacific Railway has a 52 week low of $97.09 and a 52 week high of $157.34. The stock’s 50 day moving average is $150.65 and its 200 day moving average is $142.01. The company has a market capitalization of $22.22 billion, a P/E ratio of 20.34 and a beta of 1.32.
A number of equities research analysts recently commented on CP shares. Cowen and Company lowered their price target on shares of Canadian Pacific Railway from $168.00 to $166.00 and set an “outperform” rating on the stock in a report on Wednesday, June 22nd. Raymond James Financial Inc. raised shares of Canadian Pacific Railway from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $210.00 to $200.00 in a report on Wednesday, June 22nd. Desjardins raised shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating and lowered their price target for the stock from $204.00 to $195.00 in a report on Wednesday, June 22nd. TD Securities reaffirmed a “hold” rating and issued a $185.00 price target (down previously from $195.00) on shares of Canadian Pacific Railway in a report on Wednesday, June 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Canadian Pacific Railway from $209.00 to $203.00 and set an “outperform” rating on the stock in a report on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $177.89.
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In other Canadian Pacific Railway 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 transaction of $1,394,257,295.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CP. Jefferies Group LLC bought a new stake in Canadian Pacific Railway during the second quarter valued at $284,000. Nuveen Fund Advisors LLC bought a new stake in Canadian Pacific Railway during the second quarter valued at $431,000. Massachusetts Financial Services Co. MA increased its stake in Canadian Pacific Railway by 27.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,759,991 shares of the company’s stock valued at $226,669,000 after buying an additional 383,279 shares in the last quarter. State of Tennessee Treasury Department increased its stake in Canadian Pacific Railway by 5.0% in the second quarter. State of Tennessee Treasury Department now owns 201,283 shares of the company’s stock valued at $25,785,000 after buying an additional 9,543 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Canadian Pacific Railway by 65.1% in the second quarter. 1832 Asset Management L.P. now owns 3,540,175 shares of the company’s stock valued at $455,518,000 after buying an additional 1,395,706 shares in the last quarter. 68.20% of the stock is currently owned by institutional investors.
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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