Canadian Pacific Kansas City Limited (NYSE:CP) Short Interest Up 7.9% in August

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 7,670,000 shares, a growth of 7.9% from the August 15th total of 7,110,000 shares. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on CP. Barclays decreased their price target on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. Wells Fargo & Company started coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price on the stock. Jefferies Financial Group lowered their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Finally, Sanford C. Bernstein increased their price objective on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research report on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Stock Performance

NYSE CP traded down $0.70 during mid-day trading on Wednesday, reaching $85.94. 1,210,273 shares of the stock were exchanged, compared to its average volume of 2,074,836. The company has a market capitalization of $80.19 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. The business’s 50 day moving average is $81.94 and its 200-day moving average is $82.50. Canadian Pacific Kansas City has a 1 year low of $68.92 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its 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 analyst estimates of $3.58 billion. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities research analysts forecast that Canadian Pacific Kansas City will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.1373 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.64%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.31%.

Institutional Trading of Canadian Pacific Kansas City

Institutional investors and hedge funds have recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in Canadian Pacific Kansas City during the 1st quarter worth approximately $32,000. Chris Bulman Inc purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $35,000. ORG Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $39,000. Tobam acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at $51,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Canadian Pacific Kansas City in the 2nd quarter valued at $61,000. Hedge funds and other 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.