Wells Fargo & Company Cuts Canadian Pacific Kansas City (NYSE:CP) Price Target to $90.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective reduced by Wells Fargo & Company from $92.00 to $90.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have an overweight rating on the transportation company’s stock.

A number of other brokerages have also recently commented on CP. Stifel Nicolaus dropped their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Stephens raised shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $81.00 to $88.00 in a research note on Monday. StockNews.com downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Citigroup dropped their price target on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.56.

Canadian Pacific Kansas City Trading Down 1.1 %

Shares of CP opened at $76.29 on Tuesday. The stock has a market capitalization of $71.21 billion, a PE ratio of 27.25, a P/E/G ratio of 2.26 and a beta of 0.96. The company’s fifty day moving average is $75.16 and its 200 day moving average is $79.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City has a fifty-two week low of $70.89 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Sell-side analysts expect that Canadian Pacific Kansas City will post 3.05 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.14 dividend. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s payout ratio is presently 20.00%.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several large investors have recently modified their holdings of CP. First Hawaiian Bank boosted its stake in shares of Canadian Pacific Kansas City by 3.2% during the fourth quarter. First Hawaiian Bank now owns 13,845 shares of the transportation company’s stock valued at $1,002,000 after purchasing an additional 424 shares in the last quarter. Fulton Bank N.A. bought a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $212,000. Park National Corp OH purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $492,000. GAMMA Investing LLC raised its position in shares of Canadian Pacific Kansas City by 20.3% in the 4th quarter. GAMMA Investing LLC now owns 2,929 shares of the transportation company’s stock worth $212,000 after acquiring an additional 495 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Canadian Pacific Kansas City by 277.2% during the 4th quarter. Versant Capital Management Inc now owns 694 shares of the transportation company’s stock worth $50,000 after purchasing an additional 510 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

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.