Canadian Pacific Railway Limited (CP) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Shares of Canadian Pacific have struggled over the last one year, underperforming the Zacks-categorized Transportation-Rail industry in the period. We expect the company tp struggle in the first quarter of 2017 like it did in the fourth quarter of 2016.  Unfavorable weather conditions on the West Coast and a delayed grain harvest might hurt results. The pessimism surrounding the stock is reflected by the 3.5% decline in the first quarter Zacks Consensus  Estimate to $1.93 per share over the last two months. Moreover, the company's high debt levels raise concerns. We are, however, impressed with the company’s efforts to control costs.”

CP has been the subject of several other research reports. Credit Suisse Group AG reaffirmed an outperform rating and issued a $168.00 target price (up previously from $162.00) on shares of Canadian Pacific Railway Limited in a research note on Monday, March 6th. Barclays PLC reissued a buy rating and set a $177.00 price objective on shares of Canadian Pacific Railway Limited in a research note on Tuesday, January 10th. Stifel Nicolaus raised Canadian Pacific Railway Limited from a hold rating to a buy rating and increased their price objective for the company from $155.00 to $166.00 in a research note on Thursday, December 15th. CLSA raised Canadian Pacific Railway Limited from an underperform rating to an outperform rating in a research note on Tuesday, January 10th. Finally, Royal Bank of Canada dropped their price objective on Canadian Pacific Railway Limited from $239.00 to $224.00 and set an outperform rating for the company in a research note on Tuesday, January 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $181.72.

Shares of Canadian Pacific Railway Limited (NYSE:CP) opened at 145.53 on Tuesday. The company’s 50 day moving average is $148.20 and its 200-day moving average is $148.26. The company has a market capitalization of $21.30 billion, a P/E ratio of 18.26 and a beta of 1.08. Canadian Pacific Railway Limited has a 1-year low of $119.50 and a 1-year high of $157.34.

Canadian Pacific Railway Limited (NYSE:CP) last issued its earnings results on Wednesday, January 18th. The company reported $3.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.11 by $0.07. The firm earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Canadian Pacific Railway Limited had a return on equity of 32.07% and a net margin of 25.56%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.72 EPS. On average, equities research analysts forecast that Canadian Pacific Railway Limited will post $8.59 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Shareholders of record on Friday, March 31st will be issued a $0.3803 dividend. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.05%. Canadian Pacific Railway Limited’s dividend payout ratio is 18.67%.

In other Canadian Pacific Railway Limited news, CEO E Hunter Harrison sold 178,617 shares of the stock in a transaction on Friday, January 20th. The stock was sold at an average price of $150.81, for a total value of $26,937,229.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Kenneth Wallace sold 8,080 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $150.18, for a total value of $1,213,454.40. Following the completion of the transaction, the vice president now owns 4,500 shares of the company’s stock, valued at approximately $675,810. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,184 shares of company stock valued at $28,835,829. 0.13% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Keybank National Association OH increased its position in Canadian Pacific Railway Limited by 1.0% in the fourth quarter. Keybank National Association OH now owns 2,923 shares of the company’s stock worth $417,000 after buying an additional 30 shares during the period. Sawtooth Solutions LLC increased its position in Canadian Pacific Railway Limited by 2.8% in the third quarter. Sawtooth Solutions LLC now owns 3,083 shares of the company’s stock worth $471,000 after buying an additional 85 shares during the period. Geneva Advisors LLC increased its position in Canadian Pacific Railway Limited by 2.6% in the third quarter. Geneva Advisors LLC now owns 5,860 shares of the company’s stock worth $895,000 after buying an additional 150 shares during the period. WMS Partners LLC increased its position in Canadian Pacific Railway Limited by 0.4% in the third quarter. WMS Partners LLC now owns 56,807 shares of the company’s stock worth $8,674,000 after buying an additional 200 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in Canadian Pacific Railway Limited by 6.1% in the third quarter. Oppenheimer & Co. Inc. now owns 4,794 shares of the company’s stock worth $732,000 after buying an additional 277 shares during the period. Institutional investors and hedge funds own 69.01% of the company’s stock.

Canadian Pacific Railway Limited Company Profile

Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.

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