Canadian Pacific Kansas City (NYSE:CP) Price Target Cut to $82.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target cut by Stifel Nicolaus from $83.00 to $82.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other analysts have also commented on CP. Jefferies Financial Group lowered their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Susquehanna raised their price target on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a neutral rating in a research report on Wednesday, October 2nd. Evercore ISI upped their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an outperform rating in a research report on Wednesday, September 25th. Barclays lifted their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an overweight rating in a research report on Wednesday, September 25th. Finally, Sanford C. Bernstein reduced their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a market perform rating on the stock in a report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $97.90.

Canadian Pacific Kansas City Stock Down 0.2 %

CP stock opened at $81.88 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $82.56 and its 200 day moving average price is $81.82. Canadian Pacific Kansas City has a 52 week low of $68.92 and a 52 week high of $91.58. The company has a market cap of $76.40 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.21 and a beta of 0.96.

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 for the quarter, beating the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. Canadian Pacific Kansas City’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. On average, research analysts expect that Canadian Pacific Kansas City will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.67%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently modified their holdings of CP. Vanguard Group Inc. raised its holdings in Canadian Pacific Kansas City by 1.7% in the first quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock valued at $3,079,474,000 after buying an additional 588,701 shares during the period. TD Asset Management Inc raised its stake in shares of Canadian Pacific Kansas City by 2.5% in the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock valued at $1,915,196,000 after acquiring an additional 532,303 shares during the period. Bank of Montreal Can lifted its holdings in shares of Canadian Pacific Kansas City by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock valued at $1,580,556,000 after acquiring an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Canadian Pacific Kansas City by 5.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after purchasing an additional 723,188 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Canadian Pacific Kansas City by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after purchasing an additional 216,062 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.