Shares Purchaseback Plan Initiated by Canadian Pacific Railway Limited (CP) Board of Directors

Shares Purchaseback Plan Initiated by Canadian Pacific Railway Limited (CP) Board of Directors

Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) declared that its board has authorized a share repurchase plan, which permits the company to buyback 4,380,000 outstanding shares on Wednesday, May 10th, EventVestor reports. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

A number of research analysts recently weighed in on CP shares. Loop Capital lowered their target price on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Citigroup Inc restated a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 14th. Credit Suisse Group AG restated a “buy” rating and set a $171.00 target price on shares of Canadian Pacific Railway Limited in a research note on Friday, April 7th. Stifel Nicolaus restated a “buy” rating and set a $164.00 target price (down previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Saturday, April 22nd. Finally, Zacks Investment Research upgraded shares of Canadian Pacific Railway Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $182.88.

Shares of Canadian Pacific Railway Limited (NYSE CP) traded down 0.56% during trading on Friday, reaching $158.12. 548,211 shares of the company traded hands. The firm has a 50 day moving average of $155.36 and a 200 day moving average of $150.21. The stock has a market capitalization of $23.20 billion, a PE ratio of 21.47 and a beta of 1.08. Canadian Pacific Railway Limited has a 52 week low of $119.50 and a 52 week high of $160.45.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a dividend of $0.412 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a yield of 1.04%. Canadian Pacific Railway Limited’s payout ratio is 18.67%.

Canadian Pacific Railway Limited 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 operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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