Bank of America Trims Canadian Pacific Kansas City (NYSE:CP) Target Price to $91.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective lowered by Bank of America from $94.00 to $91.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Other research analysts have also issued research reports about the company. Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their target price for the company from $94.00 to $92.00 in a report on Thursday. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Sanford C. Bernstein dropped their target price on 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. Evercore ISI raised their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Stifel Nicolaus dropped their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.95.

Canadian Pacific Kansas City Stock Down 1.8 %

Shares of NYSE:CP opened at $77.11 on Thursday. The business’s 50 day simple moving average is $82.86 and its two-hundred day simple moving average is $81.35. The firm has a market cap of $71.95 billion, a P/E ratio of 24.71, a PEG ratio of 2.21 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. Canadian Pacific Kansas City has a 52-week low of $69.07 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly 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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. As a group, research analysts forecast that Canadian Pacific Kansas City will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

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

Institutional Trading of Canadian Pacific Kansas City

A number of large investors have recently bought and sold shares of CP. Mirova US LLC purchased a new stake in Canadian Pacific Kansas City in the second quarter worth $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Canadian Pacific Kansas City by 398.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after purchasing an additional 1,678,784 shares in the last quarter. Cantillon Capital Management LLC grew its position in shares of Canadian Pacific Kansas City by 49.1% in the first quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after purchasing an additional 1,174,200 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Canadian Pacific Kansas City by 8,261.4% in the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock valued at $74,282,000 after purchasing an additional 932,216 shares in the last quarter. Finally, AGF Management Ltd. grew its position in shares of Canadian Pacific Kansas City by 86.5% in the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after purchasing an additional 735,816 shares in the last quarter. 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.