Bank of America Trims Canadian Pacific Kansas City (NYSE:CP) Target Price to $92.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price lowered by Bank of America from $97.00 to $92.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other analysts also recently commented on the company. Jefferies Financial Group started coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a buy rating and a $105.00 price target for the company. Raymond James increased their price target on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Susquehanna Bancshares downgraded Canadian Pacific Kansas City from a positive rating to a neutral rating and decreased their price target for the company from $90.00 to $87.00 in a research report on Monday, January 8th. Barclays increased their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus increased their price objective on Canadian Pacific Kansas City from $80.00 to $83.00 and gave the company a hold rating in a report on Friday, April 12th. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $81.68 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The company has a market cap of $76.18 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94. The business has a 50 day moving average price of $87.04 and a 200-day moving average price of $79.90. Canadian Pacific Kansas City has a 52 week low of $68.92 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. Equities analysts anticipate that Canadian Pacific Kansas City will post 3.16 earnings per share 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, July 29th. Stockholders of record on Friday, June 28th will be issued a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Large investors have recently made changes to their positions in the stock. YCG LLC boosted its holdings in shares of Canadian Pacific Kansas City by 32.5% in the fourth quarter. YCG LLC now owns 372,422 shares of the transportation company’s stock worth $29,444,000 after acquiring an additional 91,276 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Canadian Pacific Kansas City by 15.3% in the fourth quarter. SG Americas Securities LLC now owns 96,211 shares of the transportation company’s stock worth $7,606,000 after acquiring an additional 12,748 shares during the period. Element Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City in the third quarter worth $7,815,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Canadian Pacific Kansas City by 5.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company’s stock worth $24,525,000 after acquiring an additional 14,557 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in Canadian Pacific Kansas City during the fourth quarter valued at $5,392,000. 72.20% of the stock is owned by institutional investors.

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.