Canadian Pacific Kansas City Limited (NYSE:CP) Sees Large Increase in Short Interest

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 12,490,000 shares, a growth of 33.6% from the September 15th total of 9,350,000 shares. Based on an average daily volume of 1,930,000 shares, the days-to-cover ratio is currently 6.5 days.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded down $0.52 during trading on Tuesday, reaching $81.37. 1,595,654 shares of the stock traded hands, compared to its average volume of 2,103,554. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. The company has a market capitalization of $75.92 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 2.21 and a beta of 0.96. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The business has a fifty day simple moving average of $82.56 and a two-hundred day simple moving average of $81.82.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. Sell-side analysts expect that Canadian Pacific Kansas City will post 3.2 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.1373 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.67%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Grove Bank & Trust lifted its position in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after buying an additional 130 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at $32,000. Chris Bulman Inc bought a new position in shares of Canadian Pacific Kansas City in the second quarter worth about $35,000. ORG Partners LLC purchased a new position in Canadian Pacific Kansas City in the 2nd quarter worth about $39,000. Finally, Tobam bought a new stake in Canadian Pacific Kansas City during the 1st quarter valued at about $51,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

CP has been the subject of a number of research reports. Jefferies Financial Group reduced their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Stifel Nicolaus lowered their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday. Evercore ISI raised their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Citigroup assumed coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. 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. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $97.90.

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.