Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) – Equities researchers at National Bank Financial decreased their FY2022 earnings per share (EPS) estimates for shares of Canadian Pacific Railway in a report released on Wednesday, April 27th. National Bank Financial analyst C. Doerksen now expects that the transportation company will earn $2.55 per share for the year, down from their prior estimate of $2.91. National Bank Financial also issued estimates for Canadian Pacific Railway’s Q4 2022 earnings at $0.77 EPS, Q1 2023 earnings at $0.77 EPS, Q2 2023 earnings at $0.87 EPS, Q3 2023 earnings at $0.96 EPS, Q4 2023 earnings at $1.01 EPS and FY2023 earnings at $3.63 EPS.
Several other brokerages have also issued reports on CP. Raymond James decreased their price target on shares of Canadian Pacific Railway from C$105.00 to C$100.00 in a research note on Friday, April 22nd. Citigroup lifted their price target on shares of Canadian Pacific Railway from $80.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, January 5th. Susquehanna boosted their price target on shares of Canadian Pacific Railway from $89.00 to $96.00 and gave the stock a “positive” rating in a research report on Thursday, April 7th. Wells Fargo & Company lifted their price objective on shares of Canadian Pacific Railway from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, January 10th. Finally, UBS Group raised shares of Canadian Pacific Railway to a “positive” rating in a research note on Monday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Canadian Pacific Railway currently has an average rating of “Buy” and an average price target of $93.13.
Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) last released its quarterly earnings results on Wednesday, April 27th. The transportation company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.88 billion. Canadian Pacific Railway had a net margin of 36.24% and a return on equity of 14.62%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Canadian Pacific Railway by 75.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 33,543,907 shares of the transportation company’s stock worth $2,413,148,000 after acquiring an additional 14,404,285 shares during the last quarter. Egerton Capital UK LLP boosted its stake in shares of Canadian Pacific Railway by 46.1% in the 3rd quarter. Egerton Capital UK LLP now owns 28,753,046 shares of the transportation company’s stock valued at $1,870,961,000 after buying an additional 9,070,375 shares during the period. FIL Ltd lifted its stake in Canadian Pacific Railway by 11.5% during the third quarter. FIL Ltd now owns 22,392,073 shares of the transportation company’s stock worth $1,461,813,000 after purchasing an additional 2,308,635 shares during the last quarter. Mackenzie Financial Corp increased its position in Canadian Pacific Railway by 4.5% during the fourth quarter. Mackenzie Financial Corp now owns 19,258,574 shares of the transportation company’s stock worth $1,385,204,000 after buying an additional 833,125 shares during the period. Finally, Veritas Asset Management LLP increased its position in Canadian Pacific Railway by 0.8% during the fourth quarter. Veritas Asset Management LLP now owns 15,391,371 shares of the transportation company’s stock worth $1,107,255,000 after buying an additional 115,700 shares during the period. 79.49% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Friday, June 24th will be paid a $0.152 dividend. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.15. This represents a $0.61 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, June 23rd. Canadian Pacific Railway’s dividend payout ratio is currently 19.30%.
Canadian Pacific Railway Company Profile (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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