Canadian Pacific Railway Limited (NYSE:CP) Declares Quarterly Dividend of $0.15

Canadian Pacific Railway Limited (NYSE:CPGet Rating) (TSE:CP) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Stockholders of record on Friday, June 24th will be given a dividend of 0.152 per share by the transportation company on Monday, July 25th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, June 23rd. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.15.

Canadian Pacific Railway has raised its dividend payment by an average of 16.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Canadian Pacific Railway has a dividend payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian Pacific Railway to earn $3.64 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 16.5%.

NYSE:CP opened at $72.74 on Thursday. The firm has a market cap of $67.64 billion, a P/E ratio of 21.58, a PEG ratio of 2.37 and a beta of 0.93. The company has a current ratio of 0.43, a quick ratio of 0.35 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $76.67 and its 200-day simple moving average is $74.69. Canadian Pacific Railway has a 12-month low of $64.37 and a 12-month high of $84.22.

Canadian Pacific Railway (NYSE:CPGet Rating) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 27th. The transportation company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.06. Canadian Pacific Railway had a return on equity of 17.05% and a net margin of 35.84%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. Canadian Pacific Railway’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts forecast that Canadian Pacific Railway will post 3 EPS for the current fiscal year.

CP has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Canadian Pacific Railway from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, January 10th. Scotiabank upped their price objective on Canadian Pacific Railway from C$105.00 to C$106.00 in a report on Wednesday, April 6th. Susquehanna Bancshares upped their price objective on Canadian Pacific Railway from $89.00 to $96.00 in a report on Thursday, April 7th. Raymond James lowered their target price on Canadian Pacific Railway from C$105.00 to C$100.00 in a report on Friday, April 22nd. Finally, Susquehanna upped their target price on Canadian Pacific Railway from $89.00 to $96.00 and gave the company a “positive” rating in a report on Thursday, April 7th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $93.19.

Several large investors have recently modified their holdings of CP. Covington Capital Management lifted its position in shares of Canadian Pacific Railway by 348.0% in the fourth quarter. Covington Capital Management now owns 1,120 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 870 shares in the last quarter. Oak Harbor Wealth Partners LLC purchased a new position in Canadian Pacific Railway during the fourth quarter worth about $210,000. Titleist Asset Management LTD. purchased a new position in Canadian Pacific Railway during the fourth quarter worth about $219,000. Sequoia Financial Advisors LLC purchased a new position in Canadian Pacific Railway during the fourth quarter worth about $236,000. Finally, Forum Financial Management LP purchased a new position in Canadian Pacific Railway during the fourth quarter worth about $270,000. Institutional investors and hedge funds own 79.49% of the company’s stock.

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.

See Also

Dividend History for Canadian Pacific Railway (NYSE:CP)

Receive News & Ratings for Canadian Pacific Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway and related companies with MarketBeat.com's FREE daily email newsletter.