Canadian Pacific Kansas City (NYSE:CP) PT Lowered to $89.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective lowered by Evercore from $90.00 to $89.00 in a research note released on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the transportation company’s stock.

CP has been the subject of several other research reports. Raymond James increased their price target on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an outperform rating in a research note on Monday, April 22nd. StockNews.com raised shares of Canadian Pacific Kansas City from a sell rating to a hold rating in a research report on Wednesday, January 31st. Barclays increased their price objective on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Jefferies Financial Group began coverage on shares of Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a buy rating and a $105.00 price objective for the company. Finally, Scotiabank reaffirmed a sector perform rating on shares of Canadian Pacific Kansas City in a research report on Monday, March 25th. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of Moderate Buy and an average target price of $96.42.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $81.68 on Thursday. The firm has a 50 day simple moving average of $87.04 and a 200-day simple moving average of $79.90. Canadian Pacific Kansas City has a 1-year low of $68.92 and a 1-year high of $91.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.46. The stock has a market cap of $76.18 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts expect that Canadian Pacific Kansas City will post 3.16 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given 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 dividend payout ratio (DPR) is 17.95%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Canadian Pacific Kansas City during the 4th quarter worth $979,890,000. TD Asset Management Inc grew its position in Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after purchasing an additional 6,835,271 shares during the last quarter. Legal & General Group Plc purchased a new position in Canadian Pacific Kansas City during the 3rd quarter worth $481,016,000. Sustainable Growth Advisers LP grew its position in Canadian Pacific Kansas City by 151.4% during the 3rd quarter. Sustainable Growth Advisers LP now owns 7,847,292 shares of the transportation company’s stock worth $583,917,000 after purchasing an additional 4,726,098 shares during the last quarter. Finally, Causeway Capital Management LLC purchased a new position in Canadian Pacific Kansas City during the 3rd quarter worth $305,505,000. 72.20% of the stock is owned by hedge funds and other 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.