Shares of the company are trading at $177.11 which is a tad above $165.87, the stock’s 50 day moving average and well above the 200 day moving average of $158.73. The 50 day moving average went up $11.24 or +6.78% and the 200 day average was up $18.38. (NYSE:CP) shares saw light trading volume with 385K shares changing hands on Tuesday. Overall, volume was down 50.23% under the stocks normal daily volume.
Short traders are feeling a little more bullish on the company lately if you take into consideration the decrease in short interest. The stock recorded a fall in short interest of -29.23% between September 15, 2017 and September 29, 2017. Short shares fell 286,616 over that period. Days to cover decreased from 2.0 to 1.0 and the short interest percentage is 0.00% as of September 29.
Here are a few substantial investment firms who have updated their positions. Capital One, National Association augmented its stake by buying 129 shares an increase of 6.2%. Capital One, National Association claims 2,204 shares valued at $370,000. The value of the position overall is up by 10.8%. Central Trust Co downsized its holdings by shedding 1,050 shares a decrease of 16.5% in the quarter. Central Trust Co owns 5,300 shares worth $891,000. The total value of its holdings decreased 12.7%.
As of quarter end Shell Asset Management CO had disposed of 9 shares trimming its stake by 0.1%. The value of the total investment in Canadian Pacific Railway Limite increased from $2,830,000 to $2,840,000 a change of $10,000 quarter to quarter. As of the end of the quarter Viking Fund Management LLC had sold a total of 10,000 shares trimming its position 10.0%. The value of the investment in CP went from $16,081,000 to $15,123,000 a change of 6.0% for the reporting period.
July 20 investment analysts at Bank of America kept the stock rating at “Buy” and lowered the price expectation to $193.00 from $221.00. On July 25 Morgan Stanley held the company rating at “Overweight” but raised the price expectation from $11.00 to $214.00.
On October 12 the stock rating was upgraded to “Overweight” from “Neutral” by JP Morgan. On October 18 Morgan Stanley left the company rating at “Overweight” and moved up the price target from $214.00 to $225.00.
October 19 investment analysts at Argus made no change to the company rating of “Buy” but moved up the price target from $180.00 to $200.00.
In the market the company is trading down since yesterday’s close of 177.61. Canadian Pacific Railway Limite also declared a dividend for shareholders payable on Monday the 30th of October 2017. The dividend payment will be $0.453 per share for the quarter or $1.81 on an annualized basis. The dividend yield will be $1.02. The ex-dividend date is Thursday the 28th of September 2017.
The P/E ratio is currently 17.49 and market capitalization is 25.77B. In the last earnings report the EPS was $10.12 and is projected to be $9.14 for the current year with 145,500,000 shares outstanding. Analysts expect next quarter’s EPS to be $2.28 and the next full year EPS is projected to be $10.31.
Canadian Pacific Railway Limited, launched on October 1, 2001, 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 transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles, serving the business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia and the United States Northeast and Midwest regions. Its railway feeds directly into the United States heartland from the east and west coasts. Its Bulk commodities include grain, coal, potash, fertilizers and sulfur. Its Merchandise freight consists of finished vehicles and machinery, as well as forest and industrial and consumer products. Its Intermodal traffic consists of retail goods in overseas containers that can be transported by train, ship and truck and in domestic containers and trailers that can be moved by train and truck. Its subsidiaries include Canadian Pacific Railway Company, Soo Line Railroad Company, Delaware and Hudson Railway Company, Inc., Dakota, Minnesota & Eastern Railroad Corporation and Mount Stephen Properties Inc..