Canadian Pacific Kansas City (NYSE:CP) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) in a research report released on Friday, MarketBeat reports. The firm issued an overweight rating and a $90.00 target price on the transportation company’s stock.

Several other equities research analysts have also commented on CP. Raymond James boosted their target price on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. Evercore decreased their target price on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Barclays lifted their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Scotiabank reaffirmed a sector perform rating on shares of Canadian Pacific Kansas City in a research note on Monday, March 25th. Finally, Evercore ISI cut their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an outperform rating for the company in a research note on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $96.32.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $77.23 on Friday. The firm has a market capitalization of $72.04 billion, a P/E ratio of 24.75, a PEG ratio of 2.19 and a beta of 0.97. Canadian Pacific Kansas City has a one year low of $68.92 and a one year high of $91.58. The company’s fifty day moving average is $82.29 and its two-hundred day moving average is $81.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. Analysts forecast that Canadian Pacific Kansas City will post 3.14 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.141 dividend. This represents a $0.56 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is 17.63%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $979,890,000. TD Asset Management Inc increased its stake in shares of 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 valued at $1,682,256,000 after acquiring an additional 6,835,271 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $481,016,000. Sustainable Growth Advisers LP increased its stake in shares of 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 valued at $583,917,000 after acquiring an additional 4,726,098 shares during the last quarter. Finally, Causeway Capital Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $305,505,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.