Canadian Pacific Kansas City (NYSE:CP) Price Target Raised to $91.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective hoisted by Evercore ISI from $89.00 to $91.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

A number of other analysts have also recently weighed in on the stock. Susquehanna reissued a neutral rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price 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. Scotiabank upgraded shares of Canadian Pacific Kansas City from a sector perform rating to a sector outperform rating in a research note on Wednesday, July 10th. Barclays upped their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an overweight rating in a report on Wednesday. Finally, Wells Fargo & Company started coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an overweight rating and a $90.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of Moderate Buy and a consensus target price of $96.59.

Canadian Pacific Kansas City Stock Down 0.1 %

Shares of NYSE CP opened at $85.44 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $82.35 and its two-hundred day moving average is $82.45. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The firm has a market cap of $79.74 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.43 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. The business’s quarterly revenue was up 13.5% on a year-over-year basis. Research analysts predict that Canadian Pacific Kansas City will post 3.1 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.64%. Canadian Pacific Kansas City’s payout ratio is 17.95%.

Institutional Trading of Canadian Pacific Kansas City

Hedge funds and other institutional investors have recently modified their holdings of the company. Heritage Wealth Management Inc. acquired a new stake in Canadian Pacific Kansas City during the 2nd quarter worth about $612,000. Sanctuary Advisors LLC purchased a new position in shares of Canadian Pacific Kansas City in the second quarter worth approximately $3,267,000. Granite Bay Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at $513,000. IMS Capital Management purchased a new position in Canadian Pacific Kansas City during the 2nd quarter valued at about $532,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Canadian Pacific Kansas City by 9.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,275 shares of the transportation company’s stock worth $809,000 after purchasing an additional 919 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Company Profile

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.