Goldman Sachs Group initiated coverage on shares of Canadian Pacific Railway (NYSE:CP) (TSE:CP) in a research note published on Wednesday morning, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a neutral rating and a $253.00 price objective on the transportation company’s stock.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein started coverage on shares of CVS Health in a research report on Tuesday, March 12th. They set an outperform rating and a $76.00 price target for the company. Macquarie set a $52.00 price target on shares of Southwest Airlines and gave the stock a hold rating in a research report on Thursday, March 28th. Desjardins lowered shares of Canadian Pacific Railway from a buy rating to a hold rating in a research report on Friday, April 12th. Deutsche Bank lowered shares of CROWN CASTLE IN/SH SH from a buy rating to a hold rating and set a $121.00 price target for the company. in a research report on Monday, March 18th. They noted that the move was a valuation call. Finally, Argus reaffirmed a buy rating and set a $215.00 price target on shares of AvalonBay Communities in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Canadian Pacific Railway presently has a consensus rating of Buy and an average target price of $234.41.

Shares of NYSE:CP traded up $2.10 during trading on Wednesday, reaching $237.67. The stock had a trading volume of 321,000 shares, compared to its average volume of 445,514. The firm’s fifty day moving average is $232.22. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 1.24. The firm has a market cap of $32.94 billion, a PE ratio of 21.22, a P/E/G ratio of 1.70 and a beta of 1.09. Canadian Pacific Railway has a fifty-two week low of $167.48 and a fifty-two week high of $241.20.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.54. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Canadian Pacific Railway had a net margin of 27.45% and a return on equity of 30.52%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 earnings per share. Equities analysts anticipate that Canadian Pacific Railway will post 12.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.6174 per share. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.49. This represents a $2.47 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, June 27th. Canadian Pacific Railway’s payout ratio is currently 22.68%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FIL Ltd grew its stake in Canadian Pacific Railway by 13.6% during the first quarter. FIL Ltd now owns 4,056,828 shares of the transportation company’s stock worth $835,864,000 after buying an additional 485,524 shares during the period. TD Asset Management Inc. boosted its stake in shares of Canadian Pacific Railway by 0.5% in the first quarter. TD Asset Management Inc. now owns 3,508,765 shares of the transportation company’s stock valued at $723,153,000 after purchasing an additional 18,425 shares during the period. Egerton Capital UK LLP boosted its stake in shares of Canadian Pacific Railway by 8.1% in the first quarter. Egerton Capital UK LLP now owns 3,395,773 shares of the transportation company’s stock valued at $699,631,000 after purchasing an additional 254,877 shares during the period. Bank of Montreal Can boosted its stake in shares of Canadian Pacific Railway by 0.5% in the first quarter. Bank of Montreal Can now owns 3,141,406 shares of the transportation company’s stock valued at $647,223,000 after purchasing an additional 15,826 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Canadian Pacific Railway by 4.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,915,566 shares of the transportation company’s stock valued at $394,664,000 after purchasing an additional 86,085 shares during the period. 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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Analyst Recommendations for Canadian Pacific Railway (NYSE:CP)

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