Credit Suisse Group Increases Canadian Pacific Railway (NYSE:CP) Price Target to $275.00

Canadian Pacific Railway (NYSE:CP) (TSE:CP) had its price target hoisted by Credit Suisse Group from $262.00 to $275.00 in a research note published on Wednesday, The Fly reports. They currently have an outperform rating on the transportation company’s stock.

A number of other research firms have also recently commented on CP. Citigroup set a $20.00 target price on shares of Compania de Minas Buenaventura SAA and gave the stock a buy rating in a research note on Thursday, April 4th. Raymond James cut shares of RioCan Real Estate Investment Trust to a hold rating in a research note on Monday, July 15th. Argus reissued a buy rating and set a $215.00 target price on shares of AvalonBay Communities in a research note on Tuesday, April 30th. ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, May 17th. Finally, Morgan Stanley reissued a buy rating on shares of Canadian Pacific Railway in a research note on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $242.62.

CP opened at $237.82 on Wednesday. Canadian Pacific Railway has a fifty-two week low of $167.48 and a fifty-two week high of $247.52. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $234.92. The stock has a market capitalization of $33.80 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its earnings results on Tuesday, July 16th. The transportation company reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $1.11. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Canadian Pacific Railway had a net margin of 30.40% and a return on equity of 32.03%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.16 earnings per share. On average, analysts predict that Canadian Pacific Railway will post 12.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.634 per share. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.62. This represents a $2.54 dividend on an annualized basis and a yield of 1.07%. Canadian Pacific Railway’s payout ratio is presently 22.68%.

A number of institutional investors and hedge funds have recently bought and sold shares of CP. Pinnacle Bank acquired a new position in Canadian Pacific Railway in the 4th quarter valued at about $28,000. Princeton Global Asset Management LLC acquired a new position in Canadian Pacific Railway in the 4th quarter valued at about $45,000. CWM LLC boosted its holdings in Canadian Pacific Railway by 68.1% in the 1st quarter. CWM LLC now owns 279 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 113 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new position in Canadian Pacific Railway in the 1st quarter valued at about $87,000. Finally, Bremer Bank National Association acquired a new position in Canadian Pacific Railway in the 1st quarter valued at about $94,000. Hedge funds and other institutional investors own 67.63% of the company’s stock.

About Canadian Pacific Railway

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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