Canadian Pacific Railway (CP) Hits New 52-Week High Following Dividend Announcement

Canadian Pacific Railway (TSE:CP) (NYSE:CP)’s share price hit a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as C$241.14 and last traded at C$240.20, with a volume of 99193 shares changing hands. The stock had previously closed at C$238.76.

The newly announced dividend which will be paid on Monday, July 30th. Investors of record on Friday, June 29th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, June 28th.

A number of equities analysts have weighed in on the stock. BMO Capital Markets set a C$254.00 price objective on shares of Canadian Pacific Railway and gave the stock an “outperform” rating in a research report on Thursday, April 19th. CIBC upped their price objective on shares of Canadian Pacific Railway from C$263.00 to C$270.00 in a research report on Thursday, April 19th. Royal Bank of Canada upped their price objective on shares of Canadian Pacific Railway from C$256.00 to C$258.00 and gave the stock an “outperform” rating in a research report on Thursday, April 19th. Desjardins reduced their price objective on shares of Canadian Pacific Railway from C$254.00 to C$253.00 in a research report on Monday, April 16th. Finally, Raymond James upped their price objective on shares of Canadian Pacific Railway from C$255.00 to C$260.00 in a research report on Tuesday, April 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of C$255.42.

Canadian Pacific Railway (TSE:CP) (NYSE:CP) last released its earnings results on Wednesday, April 18th. The company reported C$2.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$2.76 by C($0.06). Canadian Pacific Railway had a return on equity of 101.93% and a net margin of 89.03%. The business had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.68 billion.

Canadian Pacific Railway Company Profile

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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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