Desjardins Downgrades Canadian Pacific Railway (CP) to Hold

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Desjardins lowered shares of Canadian Pacific Railway (NYSE:CP) (TSE:CP) from a buy rating to a hold rating in a research report released on Friday, The Fly reports.

Other equities research analysts have also recently issued reports about the stock. Seaport Global Securities reiterated a buy rating on shares of Canadian Pacific Railway in a report on Thursday, January 24th. Cowen reiterated a buy rating and issued a $238.00 price objective on shares of Canadian Pacific Railway in a report on Thursday, January 24th. Barclays reissued a buy rating and set a $229.00 target price on shares of Canadian Pacific Railway in a research report on Thursday, January 17th. Zacks Investment Research raised shares of Canadian Pacific Railway from a hold rating to a buy rating and set a $230.00 target price for the company in a research report on Wednesday, January 30th. Finally, BMO Capital Markets reissued a buy rating on shares of Canadian Pacific Railway in a research report on Sunday, December 16th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $228.46.

Shares of NYSE:CP opened at $212.62 on Friday. The firm has a market capitalization of $29.86 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. Canadian Pacific Railway has a 1 year low of $167.48 and a 1 year high of $224.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.57 and a quick ratio of 0.48.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, January 23rd. The transportation company reported $4.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.18 by $1.37. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Canadian Pacific Railway had a net margin of 26.62% and a return on equity of 30.83%. Canadian Pacific Railway’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.22 earnings per share. As a group, equities analysts anticipate that Canadian Pacific Railway will post 12.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Friday, March 29th will be given a dividend of $0.4887 per share. This represents a $1.95 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, March 28th. Canadian Pacific Railway’s dividend payout ratio is 17.41%.

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Canadian Pacific Railway by 5.5% during the third quarter. Bank of New York Mellon Corp now owns 460,471 shares of the transportation company’s stock valued at $97,592,000 after buying an additional 24,114 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Canadian Pacific Railway by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 43,314 shares of the transportation company’s stock valued at $9,180,000 after buying an additional 886 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Canadian Pacific Railway by 41.8% during the third quarter. Brown Advisory Inc. now owns 2,231 shares of the transportation company’s stock valued at $472,000 after buying an additional 658 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Canadian Pacific Railway during the third quarter valued at about $149,000. Finally, Riverhead Capital Management LLC raised its position in shares of Canadian Pacific Railway by 61.5% during the third quarter. Riverhead Capital Management LLC now owns 2,100 shares of the transportation company’s stock valued at $441,000 after buying an additional 800 shares during the last quarter. 68.69% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Railway Company Profile

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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