Raymond James Analysts Give Canadian Pacific Railway (TSE:CP) a C$340.00 Price Target

Raymond James set a C$340.00 target price on Canadian Pacific Railway (TSE:CP) (NYSE:CP) in a report issued on Tuesday, April 30th, BayStreet.CA reports. The brokerage currently has a strong-buy rating on the stock.

CP has been the topic of several other reports. CIBC raised their price target on Canadian Pacific Railway from C$315.00 to C$326.00 in a research report on Wednesday, April 24th. JPMorgan Chase & Co. raised their price target on Canadian Pacific Railway from C$335.00 to C$338.00 in a research report on Wednesday, April 24th. Morgan Stanley raised their price target on Canadian Pacific Railway from C$272.00 to C$277.00 in a research report on Wednesday, April 24th. National Bank Financial raised their price target on Canadian Pacific Railway from C$295.00 to C$332.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price target on Canadian Pacific Railway from C$334.00 to C$337.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of C$302.23.

CP stock traded up C$0.11 during midday trading on Tuesday, reaching C$307.99. 321,064 shares of the company’s stock traded hands, compared to its average volume of 319,909. The stock has a market capitalization of $41.95 billion and a price-to-earnings ratio of 21.52. The company has a debt-to-equity ratio of 136.62, a current ratio of 0.76 and a quick ratio of 0.61. Canadian Pacific Railway has a 1-year low of C$228.35 and a 1-year high of C$309.50.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.65. This represents a $3.32 annualized dividend and a yield of 1.08%. Canadian Pacific Railway’s payout ratio is currently 18.17%.

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 (TSE:CP)

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