Zacks Investment Research lowered shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) from a buy rating to a hold rating in a report issued on Monday morning.

According to Zacks, “The improvement in the coal-related scenario is a huge positive for railroads with Canadian Pacific being no exception. This is because headwinds pertaining to the commodity are primarily responsible for the stock underperforming its industry over the last one year. We are impressed with the company’s efforts to reward investors through share buybacks and increased dividend payments. The company's efforts to control costs are also impressive. However, its high debt levels raise concerns. The company's below-par performance in key segments like sulfur and fertilizer, forest products and automotive also raise concerns.This might hurt the top line going forward.”

A number of other equities analysts also recently issued reports on CP. Citigroup Inc. reaffirmed a buy rating and set a $180.00 price objective (up from $165.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 14th. Credit Suisse Group reaffirmed an outperform rating and set a $178.00 price objective (up from $171.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 28th. BidaskClub downgraded shares of Canadian Pacific Railway Limited from a hold rating to a sell rating in a report on Saturday, June 10th. Stifel Nicolaus lifted their price objective on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the stock a buy rating in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed an outperform rating on shares of Canadian Pacific Railway Limited in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. Canadian Pacific Railway Limited currently has an average rating of Buy and a consensus target price of $188.35.

Shares of Canadian Pacific Railway Limited (CP) opened at 157.40 on Monday. Canadian Pacific Railway Limited has a 52 week low of $139.29 and a 52 week high of $167.52. The firm has a 50-day moving average of $155.44 and a 200-day moving average of $154.59. The firm has a market cap of $22.99 billion, a PE ratio of 17.91 and a beta of 1.09.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be given a $0.4411 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.12%. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio is 19.88%.

Several hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC increased its position in shares of Canadian Pacific Railway Limited by 1.1% in the second quarter. MML Investors Services LLC now owns 2,870 shares of the transportation company’s stock worth $462,000 after purchasing an additional 32 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Canadian Pacific Railway Limited by 3.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,135 shares of the transportation company’s stock worth $166,000 after purchasing an additional 35 shares during the last quarter. Park National Corp OH increased its position in shares of Canadian Pacific Railway Limited by 3.4% in the second quarter. Park National Corp OH now owns 1,897 shares of the transportation company’s stock worth $305,000 after purchasing an additional 63 shares during the last quarter. HL Financial Services LLC increased its position in shares of Canadian Pacific Railway Limited by 4.7% in the first quarter. HL Financial Services LLC now owns 1,571 shares of the transportation company’s stock worth $231,000 after purchasing an additional 70 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of Canadian Pacific Railway Limited by 0.6% in the second quarter. Blair William & Co. IL now owns 15,366 shares of the transportation company’s stock worth $2,471,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 65.89% of the company’s stock.

About Canadian Pacific Railway Limited

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

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