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

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target reduced by Bank of America from $94.00 to $91.00 in a research note published on Thursday, 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. Sanford C. Bernstein reduced 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. Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Citigroup assumed coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Finally, Barclays boosted their price objective 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. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.09.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $77.11 on Thursday. The firm’s 50-day moving average price is $82.86 and its 200-day moving average price is $81.30. Canadian Pacific Kansas City has a 52-week low of $69.07 and a 52-week high of $91.58. The company has a market cap of $71.95 billion, a PE ratio of 24.71, a PEG ratio of 2.21 and a beta of 0.96. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its 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 company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS. As a group, analysts anticipate that Canadian Pacific Kansas City will post 3.2 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.73%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.95%.

Institutional Investors Weigh In On Canadian Pacific Kansas City

A number of institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its holdings in shares of Canadian Pacific Kansas City by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 347,010 shares of the transportation company’s stock valued at $27,435,000 after purchasing an additional 1,542 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Canadian Pacific Kansas City by 23.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,571 shares of the transportation company’s stock worth $1,161,000 after acquiring an additional 2,552 shares during the last quarter. Milestones Administradora de Recursos Ltda. bought a new position in Canadian Pacific Kansas City during the 3rd quarter valued at about $5,068,000. Pathway Financial Advisers LLC lifted its stake in Canadian Pacific Kansas City by 8,456.8% in the third quarter. Pathway Financial Advisers LLC now owns 103,195 shares of the transportation company’s stock worth $8,827,000 after purchasing an additional 101,989 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its position in shares of Canadian Pacific Kansas City by 5.6% during the third quarter. Highview Capital Management LLC DE now owns 14,994 shares of the transportation company’s stock valued at $1,284,000 after buying an additional 795 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.