Canadian Pacific Kansas City (NYSE:CP) Given a $88.00 Price Target at Citigroup

Citigroup set a $88.00 price objective on Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on CP. Evercore ISI dropped their target price on Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 8th. Royal Bank Of Canada dropped their price objective on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Wall Street Zen lowered Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, National Bankshares reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $92.36.

Canadian Pacific Kansas City Stock Up 2.4%

Shares of CP opened at $72.14 on Thursday. The firm has a fifty day moving average price of $72.53 and a 200-day moving average price of $75.10. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $64.73 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.55 and a beta of 1.10. Canadian Pacific Kansas City has a 12-month low of $66.49 and a 12-month high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.79% and a net margin of 28.41%.During the same period last year, the business posted $0.99 earnings per share. Equities research analysts expect that Canadian Pacific Kansas City will post 3.42 earnings per share 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 26th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.228 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.3%. Canadian Pacific Kansas City’s payout ratio is presently 20.12%.

Institutional Trading of Canadian Pacific Kansas City

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Canadian Pacific Kansas City during the 2nd quarter worth approximately $1,012,065,000. JPMorgan Chase & Co. lifted its stake in shares of Canadian Pacific Kansas City by 87.2% during the second quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company’s stock worth $1,268,325,000 after buying an additional 7,454,810 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Canadian Pacific Kansas City by 281.0% during the second quarter. Fisher Asset Management LLC now owns 5,431,316 shares of the transportation company’s stock valued at $430,540,000 after buying an additional 4,005,942 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Canadian Pacific Kansas City by 18.3% during the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company’s stock valued at $1,722,841,000 after buying an additional 3,585,030 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Canadian Pacific Kansas City by 31.3% in the 2nd quarter. Franklin Resources Inc. now owns 11,611,625 shares of the transportation company’s stock valued at $921,881,000 after acquiring an additional 2,765,424 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.