Smith Barney Citigroup Raises Canadian Pacific Railway (NYSE:CP) Price Target to $430.00


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Canadian Pacific Railway (NYSE:CP) (TSE:CP) had its price objective upped by Smith Barney Citigroup from $355.00 to $430.00 in a research report sent to investors on Monday morning, The Fly reports.

Several other research analysts also recently weighed in on CP. Zacks Investment Research downgraded shares of Canadian Pacific Railway from a buy rating to a hold rating and set a $314.00 price target for the company. in a research report on Tuesday, September 22nd. Scotiabank upped their price target on shares of Canadian Pacific Railway from $395.00 to $450.00 in a research report on Friday, October 9th. CIBC upped their price target on shares of Canadian Pacific Railway from $444.00 to $490.00 and gave the stock an outperform rating in a research report on Monday, December 7th. Credit Suisse Group upped their price target on shares of Canadian Pacific Railway from $336.00 to $353.00 and gave the stock an outperform rating in a research report on Wednesday, October 21st. Finally, Benchmark downgraded shares of Canadian Pacific Railway from a buy rating to a hold rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $372.62.

CP stock opened at $363.43 on Monday. The company’s 50-day simple moving average is $343.01 and its 200-day simple moving average is $307.99. The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 1.18. Canadian Pacific Railway has a 52-week low of $173.26 and a 52-week high of $379.00. The firm has a market cap of $48.81 billion, a P/E ratio of 28.98, a PEG ratio of 2.74 and a beta of 0.93.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, October 20th. The transportation company reported $4.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.23 by ($0.11). Canadian Pacific Railway had a return on equity of 32.77% and a net margin of 29.66%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned $4.61 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. On average, analysts anticipate that Canadian Pacific Railway will post 13.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 25th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.7202 per share. The ex-dividend date is Wednesday, December 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.71. Canadian Pacific Railway’s dividend payout ratio (DPR) is currently 24.05%.

Several large investors have recently bought and sold shares of CP. FMR LLC boosted its position in shares of Canadian Pacific Railway by 19.4% during the 2nd quarter. FMR LLC now owns 3,017,263 shares of the transportation company’s stock worth $767,472,000 after purchasing an additional 490,263 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Canadian Pacific Railway by 379.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 359,851 shares of the transportation company’s stock worth $109,459,000 after purchasing an additional 284,761 shares during the period. Toronto Dominion Bank boosted its position in shares of Canadian Pacific Railway by 45.2% during the 2nd quarter. Toronto Dominion Bank now owns 680,838 shares of the transportation company’s stock worth $173,190,000 after purchasing an additional 211,905 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Canadian Pacific Railway by 13.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,371,897 shares of the transportation company’s stock worth $416,782,000 after purchasing an additional 162,622 shares during the period. Finally, Reaves W H & Co. Inc. purchased a new position in shares of Canadian Pacific Railway during the 3rd quarter worth approximately $46,395,000. 69.29% of the stock is owned by hedge funds and other 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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