Canadian Pacific Railway (NYSE:CP) Sees Unusually-High Trading Volume After Analyst Upgrade

Canadian Pacific Railway Limited (NYSE:CPGet Rating) (TSE:CP) saw unusually-strong trading volume on Friday after National Bank Financial raised their price target on the stock from C$98.00 to C$105.00. Approximately 76,861 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 1,856,812 shares.The stock last traded at $68.97 and had previously closed at $71.16.

CP has been the subject of several other research reports. Barclays lowered their price objective on Canadian Pacific Railway from $90.00 to $86.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Credit Suisse Group started coverage on Canadian Pacific Railway in a research report on Monday, June 27th. They issued a “neutral” rating and a $74.00 price objective for the company. Bank of America upgraded Canadian Pacific Railway from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $87.00 in a research report on Monday, September 12th. Susquehanna Bancshares lowered their price objective on Canadian Pacific Railway from $91.00 to $84.00 in a research report on Wednesday, July 6th. Finally, Susquehanna decreased their target price on Canadian Pacific Railway from $91.00 to $84.00 in a report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Railway presently has an average rating of “Moderate Buy” and an average target price of $90.94.

Hedge Funds Weigh In On Canadian Pacific Railway

Several hedge funds have recently bought and sold shares of CP. Lindbrook Capital LLC raised its stake in shares of Canadian Pacific Railway by 14.5% in the first quarter. Lindbrook Capital LLC now owns 1,286 shares of the transportation company’s stock worth $106,000 after purchasing an additional 163 shares during the last quarter. Avantax Planning Partners Inc. acquired a new stake in shares of Canadian Pacific Railway in the first quarter valued at $215,000. Opal Wealth Advisors LLC grew its stake in shares of Canadian Pacific Railway by 32.7% in the first quarter. Opal Wealth Advisors LLC now owns 4,460 shares of the transportation company’s stock valued at $368,000 after buying an additional 1,099 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Canadian Pacific Railway by 86.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 79,917 shares of the transportation company’s stock valued at $5,710,000 after buying an additional 37,043 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Canadian Pacific Railway by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 132,872 shares of the transportation company’s stock worth $10,963,000 after purchasing an additional 8,582 shares in the last quarter. Institutional investors own 72.53% of the company’s stock.

Canadian Pacific Railway Price Performance

The company has a 50 day moving average of $77.09 and a 200 day moving average of $74.95. The stock has a market capitalization of $64.52 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.50.

Canadian Pacific Railway (NYSE:CPGet Rating) (TSE:CP) last posted its quarterly earnings data on Thursday, July 28th. The transportation company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Canadian Pacific Railway had a return on equity of 9.74% and a net margin of 29.38%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, equities research analysts anticipate that Canadian Pacific Railway Limited will post 2.97 EPS for the current year.

Canadian Pacific Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.148 dividend. This represents a $0.59 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, September 29th. Canadian Pacific Railway’s dividend payout ratio (DPR) is currently 25.76%.

About Canadian Pacific Railway

(Get Rating)

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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