Canadian Pacific Railway (NYSE:CP) Downgraded to Hold at Loop Capital

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Loop Capital downgraded shares of Canadian Pacific Railway (NYSE:CP) (TSE:CP) from a buy rating to a hold rating in a report released on Wednesday morning, Benzinga’s Daily Ratings Newsletter reports.

A number of other research analysts have also recently commented on the stock. National Bank Financial restated a sector perform spec overwgt rating on shares of Almaden Minerals in a report on Thursday, June 27th. Argus restated a buy rating and issued a $215.00 price target on shares of AvalonBay Communities in a report on Tuesday, April 30th. Macquarie set a $52.00 price target on shares of Southwest Airlines and gave the stock a hold rating in a report on Thursday, March 28th. Deutsche Bank cut shares of CROWN CASTLE IN/SH SH from a buy rating to a hold rating and set a $121.00 price target on the stock. in a report on Monday, March 18th. They noted that the move was a valuation call. Finally, Wolfe Research upgraded shares of Covenant Transportation Group from an underperform rating to a peer perform rating in a report on Friday, June 28th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Canadian Pacific Railway has an average rating of Buy and a consensus price target of $234.41.

CP stock opened at $239.10 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.76 and a quick ratio of 0.66. Canadian Pacific Railway has a twelve month low of $167.48 and a twelve month high of $241.20. The company has a market capitalization of $33.44 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09. The company’s fifty day moving average price is $232.58.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.25 by $0.54. Canadian Pacific Railway had a net margin of 27.45% and a return on equity of 30.52%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $2.70 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Canadian Pacific Railway will post 12.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.6174 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.49. This represents a $2.47 dividend on an annualized basis and a yield of 1.03%. Canadian Pacific Railway’s dividend payout ratio is 22.68%.

A number of large investors have recently added to or reduced their stakes in CP. Zweig DiMenna Associates LLC purchased a new stake in shares of Canadian Pacific Railway during the second quarter valued at about $5,811,000. Sanders Morris Harris LLC purchased a new position in shares of Canadian Pacific Railway in the 2nd quarter valued at approximately $244,000. Capital Insight Partners LLC raised its position in shares of Canadian Pacific Railway by 2.6% in the 2nd quarter. Capital Insight Partners LLC now owns 3,752 shares of the transportation company’s stock valued at $883,000 after purchasing an additional 96 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Canadian Pacific Railway by 5.1% in the 2nd quarter. WINTON GROUP Ltd now owns 83,381 shares of the transportation company’s stock valued at $19,615,000 after purchasing an additional 4,066 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Canadian Pacific Railway by 13.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 149,186 shares of the transportation company’s stock valued at $30,737,000 after purchasing an additional 17,685 shares during the last quarter. 67.63% of the stock is owned by 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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Analyst Recommendations for Canadian Pacific Railway (NYSE:CP)

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