Q3 2018 EPS Estimates for Canadian Pacific Railway Limited Reduced by Cormark (CP)

Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) – Cormark reduced their Q3 2018 EPS estimates for shares of Canadian Pacific Railway in a note issued to investors on Thursday, September 27th, Zacks Investment Research reports. Cormark analyst D. Tyerman now expects that the transportation company will earn $2.75 per share for the quarter, down from their prior estimate of $2.78. Cormark also issued estimates for Canadian Pacific Railway’s Q3 2019 earnings at $3.12 EPS and Q4 2019 earnings at $3.21 EPS.

CP has been the topic of a number of other research reports. BMO Capital Markets reaffirmed a “buy” rating and set a $260.00 price objective (up previously from $242.00) on shares of Canadian Pacific Railway in a research note on Monday. Cowen reaffirmed an “outperform” rating and set a $236.00 price objective (up previously from $225.00) on shares of Canadian Pacific Railway in a research note on Monday. Credit Suisse Group raised their price objective on shares of Canadian Pacific Railway from $216.00 to $255.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America raised their price objective on shares of Canadian Pacific Railway from $213.00 to $233.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. Finally, Zacks Investment Research cut shares of Canadian Pacific Railway from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $237.38.

Shares of NYSE CP opened at $218.28 on Monday. The company has a market cap of $30.22 billion, a PE ratio of 24.86, a PEG ratio of 1.78 and a beta of 1.07. Canadian Pacific Railway has a 12 month low of $164.01 and a 12 month high of $224.19. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.57.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, July 18th. The transportation company reported $3.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.76. Canadian Pacific Railway had a net margin of 33.92% and a return on equity of 27.87%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $2.77 EPS. Canadian Pacific Railway’s quarterly revenue was up 6.5% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Friday, September 28th will be issued a $0.4999 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.44. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 22.89%.

Institutional investors and hedge funds have recently modified their holdings of the business. Korea Investment CORP increased its stake in shares of Canadian Pacific Railway by 18.1% in the 2nd quarter. Korea Investment CORP now owns 71,163 shares of the transportation company’s stock worth $13,033,000 after acquiring an additional 10,900 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Canadian Pacific Railway in the 2nd quarter worth $370,000. Fiera Capital Corp increased its stake in shares of Canadian Pacific Railway by 30.9% in the 2nd quarter. Fiera Capital Corp now owns 924,876 shares of the transportation company’s stock worth $169,510,000 after acquiring an additional 218,248 shares during the last quarter. Legal & General Group Plc increased its position in shares of Canadian Pacific Railway by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 693,120 shares of the transportation company’s stock worth $126,937,000 after purchasing an additional 12,013 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its position in shares of Canadian Pacific Railway by 16.3% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 304,499 shares of the transportation company’s stock worth $55,768,000 after purchasing an additional 42,699 shares during the last quarter. 65.08% of the stock is owned by institutional investors and hedge funds.

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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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

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