Canadian Pacific Kansas City (NYSE:CP) Price Target Lowered to $91.00 at Bank of America

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price reduced by Bank of America from $94.00 to $91.00 in a report published on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

CP has been the subject of a number of other research reports. Jefferies Financial Group cut their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Barclays upped their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI boosted their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Citigroup initiated coverage on Canadian Pacific Kansas City in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target on the stock. Finally, Sanford C. Bernstein lowered their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.78.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded down $0.19 on Thursday, hitting $78.32. 162,798 shares of the company traded hands, compared to its average volume of 2,100,547. Canadian Pacific Kansas City has a 12-month low of $69.07 and a 12-month high of $91.58. The firm’s 50-day simple moving average is $82.92 and its 200 day simple moving average is $81.50. The company has a market cap of $73.08 billion, a P/E ratio of 25.16, a P/E/G ratio of 2.21 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. Analysts expect that Canadian Pacific Kansas City will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.31%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirova US LLC purchased a new position in shares of Canadian Pacific Kansas City in the second quarter worth $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Canadian Pacific Kansas City by 398.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after acquiring an additional 1,678,784 shares during the period. Cantillon Capital Management LLC raised its stake in Canadian Pacific Kansas City by 49.1% in the 1st quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock worth $314,563,000 after acquiring an additional 1,174,200 shares during the last quarter. Wulff Hansen & CO. lifted its position in Canadian Pacific Kansas City by 8,261.4% during the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after acquiring an additional 932,216 shares during the period. Finally, AGF Management Ltd. grew its stake in Canadian Pacific Kansas City by 86.5% during the 2nd quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after purchasing an additional 735,816 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.