National Bank Financial Analysts Lower Earnings Estimates for Canadian Pacific Railway Limited (NYSE:CP)

Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Research analysts at National Bank Financial cut their Q3 2017 earnings estimates for Canadian Pacific Railway Limited in a research report issued to clients and investors on Wednesday. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will earn $2.29 per share for the quarter, down from their previous estimate of $2.32. National Bank Financial also issued estimates for Canadian Pacific Railway Limited’s Q1 2018 earnings at $2.30 EPS.

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A number of other research analysts have also recently commented on the stock. BidaskClub cut shares of Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company reissued an “outperform” rating and set a $180.00 target price (up from $175.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday. Bank of America Corporation boosted their target price on shares of Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Pacific Railway Limited in a research report on Thursday, July 20th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $183.00 target price (up from $178.00) on shares of Canadian Pacific Railway Limited in a research report on Thursday, July 13th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $187.16.

Shares of Canadian Pacific Railway Limited (CP) opened at 159.74 on Monday. The stock has a market capitalization of $23.34 billion, a P/E ratio of 18.12 and a beta of 1.10. The firm has a 50 day moving average of $159.33 and a 200-day moving average of $153.15. Canadian Pacific Railway Limited has a 12 month low of $139.29 and a 12 month high of $167.52.

Institutional investors have recently added to or reduced their stakes in the company. Boston Common Asset Management LLC raised its position in Canadian Pacific Railway Limited by 1.1% in the first quarter. Boston Common Asset Management LLC now owns 23,789 shares of the transportation company’s stock valued at $3,495,000 after buying an additional 260 shares in the last quarter. Reliance Trust Co. of Delaware raised its position in Canadian Pacific Railway Limited by 17.5% in the first quarter. Reliance Trust Co. of Delaware now owns 4,825 shares of the transportation company’s stock valued at $709,000 after buying an additional 720 shares in the last quarter. Congress Asset Management Co. MA raised its position in Canadian Pacific Railway Limited by 4.5% in the first quarter. Congress Asset Management Co. MA now owns 46,482 shares of the transportation company’s stock valued at $6,829,000 after buying an additional 2,010 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Canadian Pacific Railway Limited during the fourth quarter valued at approximately $2,391,000. Finally, Viking Fund Management LLC raised its position in Canadian Pacific Railway Limited by 5.3% in the first quarter. Viking Fund Management LLC now owns 100,000 shares of the transportation company’s stock valued at $14,692,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 70.20% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a dividend of $0.4411 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.76 annualized dividend and a dividend yield of 1.10%. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio is currently 19.88%.

Canadian Pacific Railway Limited declared that its board has approved a stock repurchase program on Wednesday, May 10th that permits the company to buyback 4,380,000 shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About Canadian Pacific Railway Limited

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.

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

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