Canadian Pacific Railway (NYSE:CP) Sees Large Volume Increase

Posted by on Jun 21st, 2022

Shares of Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) saw unusually-high trading volume on Tuesday . Approximately 84,585 shares traded hands during trading, a decline of 96% from the previous session’s volume of 2,019,263 shares.The stock last traded at $69.31 and had previously closed at $67.45.

Several equities research analysts have recently weighed in on the stock. Raymond James lowered their price target on shares of Canadian Pacific Railway from C$105.00 to C$100.00 in a research report on Friday, April 22nd. Bank of America lowered shares of Canadian Pacific Railway from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Friday, April 8th. Citigroup cut their price objective on shares of Canadian Pacific Railway from $84.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Susquehanna Bancshares increased their price target on shares of Canadian Pacific Railway from $89.00 to $96.00 in a report on Thursday, April 7th. Finally, Scotiabank decreased their price objective on shares of Canadian Pacific Railway from C$106.00 to C$105.00 in a report on Thursday, April 28th. Six investment 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 has an average rating of “Buy” and a consensus price target of $94.86.

The company has a quick ratio of 0.36, a current ratio of 0.44 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $72.11 and its 200-day moving average is $73.79. The firm has a market cap of $64.93 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96.

Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) last released its quarterly earnings data on Wednesday, April 27th. The transportation company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). Canadian Pacific Railway had a return on equity of 11.88% and a net margin of 36.24%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that Canadian Pacific Railway Limited will post 2.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Friday, June 24th will be given a $0.152 dividend. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, June 23rd. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.87%. Canadian Pacific Railway’s dividend payout ratio (DPR) is 19.30%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baird Financial Group Inc. lifted its position in shares of Canadian Pacific Railway by 64.4% during the 4th quarter. Baird Financial Group Inc. now owns 47,107 shares of the transportation company’s stock worth $3,389,000 after buying an additional 18,457 shares during the period. Stratos Wealth Partners LTD. grew its stake in Canadian Pacific Railway by 15.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 19,255 shares of the transportation company’s stock valued at $1,385,000 after acquiring an additional 2,611 shares during the period. Northern Trust Corp grew its stake in Canadian Pacific Railway by 31.0% in the fourth quarter. Northern Trust Corp now owns 2,973,028 shares of the transportation company’s stock valued at $213,879,000 after acquiring an additional 703,889 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in 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 acquiring an additional 37,043 shares during the period. Finally, abrdn plc grew its stake in Canadian Pacific Railway by 222.9% in the fourth quarter. abrdn plc now owns 166,279 shares of the transportation company’s stock valued at $11,962,000 after acquiring an additional 114,779 shares during the period. 75.22% of the stock is owned by institutional investors.

About Canadian Pacific Railway (NYSE:CP)

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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