Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 738,000 shares, a growth of 22.6% from the September 30th total of 602,200 shares. Based on an average daily volume of 426,800 shares, the short-interest ratio is currently 1.7 days. Approximately 0.5% of the shares of the company are short sold.
Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research cut shares of Canadian Pacific Railway from a “hold” rating to a “sell” rating and set a $227.00 price objective for the company. in a research note on Monday, October 21st. CIBC reduced their price objective on shares of Canadian Pacific Railway from $327.00 to $325.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Bank of America cut shares of Canadian Pacific Railway from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 16th. Finally, National Bank Financial reduced their price objective on shares of Canadian Pacific Railway from $328.00 to $322.00 and set a “sector perform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Canadian Pacific Railway currently has a consensus rating of “Buy” and a consensus target price of $272.12.
A number of institutional investors have recently made changes to their positions in CP. KCS Wealth Advisory bought a new stake in Canadian Pacific Railway during the third quarter valued at approximately $36,000. Liberty Wealth Management LLC lifted its position in Canadian Pacific Railway by 287.8% during the second quarter. Liberty Wealth Management LLC now owns 159 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 118 shares during the last quarter. Institutional & Family Asset Management LLC lifted its position in Canadian Pacific Railway by 33.3% during the second quarter. Institutional & Family Asset Management LLC now owns 240 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 60 shares during the last quarter. Clear Perspective Advisors LLC bought a new stake in Canadian Pacific Railway during the second quarter valued at approximately $65,000. Finally, First Interstate Bank bought a new stake in Canadian Pacific Railway during the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 69.47% of the company’s stock.
NYSE:CP traded up $2.82 during mid-day trading on Friday, hitting $241.86. 282,807 shares of the stock traded hands, compared to its average volume of 408,487. Canadian Pacific Railway has a 12-month low of $167.48 and a 12-month high of $247.52. The company has a market cap of $32.76 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.15. The business’s 50-day moving average price is $223.39 and its 200 day moving average price is $230.20.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $4.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $1.20. Canadian Pacific Railway had a net margin of 30.02% and a return on equity of 32.62%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the business posted $4.12 earnings per share. Canadian Pacific Railway’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts anticipate that Canadian Pacific Railway will post 12.43 earnings per share for the current fiscal year.
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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