Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Equities research analysts at Cormark cut their Q2 2018 EPS estimates for Canadian Pacific Railway in a note issued to investors on Friday. Cormark analyst D. Tyerman now expects that the transportation company will post earnings of $2.50 per share for the quarter, down from their prior estimate of $2.59. Cormark also issued estimates for Canadian Pacific Railway’s Q3 2018 earnings at $2.67 EPS, Q4 2018 earnings at $2.94 EPS, Q1 2019 earnings at $2.54 EPS, Q2 2019 earnings at $2.82 EPS, Q3 2019 earnings at $3.12 EPS, Q4 2019 earnings at $3.27 EPS and FY2022 earnings at $16.58 EPS.
Several other equities analysts have also issued reports on the stock. Argus lifted their price objective on shares of Canadian Pacific Railway from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Goldman Sachs Group initiated coverage on shares of Canadian Pacific Railway in a report on Monday, November 13th. They set a “neutral” rating and a $178.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating and set a $238.00 price objective on shares of Canadian Pacific Railway in a report on Wednesday, October 18th. Deutsche Bank initiated coverage on shares of Canadian Pacific Railway in a report on Wednesday, November 1st. They set a “buy” rating and a $209.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of Canadian Pacific Railway from a “neutral” rating to an “overweight” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $190.53.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its earnings results on Thursday, January 18th. The transportation company reported $2.54 EPS for the quarter, missing the Zacks’ consensus estimate of $2.57 by ($0.03). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Canadian Pacific Railway had a return on equity of 31.61% and a net margin of 36.88%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CP. Wells Fargo & Company MN grew its holdings in Canadian Pacific Railway by 1.5% in the second quarter. Wells Fargo & Company MN now owns 137,025 shares of the transportation company’s stock worth $22,034,000 after purchasing an additional 2,041 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Canadian Pacific Railway by 59.2% in the second quarter. Alliancebernstein L.P. now owns 15,607 shares of the transportation company’s stock worth $2,510,000 after purchasing an additional 5,802 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in Canadian Pacific Railway in the second quarter worth $1,913,000. Northern Trust Corp grew its holdings in Canadian Pacific Railway by 5.4% in the second quarter. Northern Trust Corp now owns 331,581 shares of the transportation company’s stock worth $53,321,000 after purchasing an additional 16,902 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Canadian Pacific Railway by 4.7% in the second quarter. Vanguard Group Inc. now owns 3,225,817 shares of the transportation company’s stock worth $518,743,000 after purchasing an additional 145,603 shares during the last quarter. 67.27% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, December 28th. Canadian Pacific Railway’s dividend payout ratio is currently 13.78%.
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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 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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