Canadian Pacific Kansas City (NYSE:CP) Given New $98.00 Price Target at Citigroup

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective hoisted by Citigroup from $97.00 to $98.00 in a research note released on Thursday morning, BayStreet.CA reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other research firms have also issued reports on CP. Barclays lifted their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Stifel Nicolaus reduced their target price on shares of 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. Sanford C. Bernstein lowered their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.78.

Canadian Pacific Kansas City Trading Down 0.2 %

Canadian Pacific Kansas City stock traded down $0.14 during trading on Thursday, hitting $78.37. The company had a trading volume of 273,169 shares, compared to its average volume of 2,101,376. Canadian Pacific Kansas City has a 1-year low of $69.07 and a 1-year high of $91.58. The company’s 50 day simple moving average is $82.92 and its 200-day simple moving average is $81.50. The stock has a market cap of $73.12 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its 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). Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company posted $0.69 EPS. Canadian Pacific Kansas City’s revenue was up 6.3% on a year-over-year basis. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Institutional Investors Weigh In On Canadian Pacific Kansas City

A number of hedge funds have recently added to or reduced their stakes in the company. Choate Investment Advisors raised its stake in shares of Canadian Pacific Kansas City by 24.2% during the 1st quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock worth $6,349,000 after buying an additional 14,037 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Canadian Pacific Kansas City in the second quarter valued at $11,810,000. Blue Zone Wealth Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth $4,160,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Canadian Pacific Kansas City by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,229,212 shares of the transportation company’s stock worth $196,672,000 after purchasing an additional 13,727 shares during the period. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Canadian Pacific Kansas City by 53.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 49,072 shares of the transportation company’s stock valued at $4,100,000 after purchasing an additional 16,995 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.