Canadian Pacific Kansas City (NYSE:CP) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $97.00 price target on the transportation company’s stock.

A number of other research analysts also recently weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a market perform rating in a research report on Monday, July 8th. Scotiabank raised Canadian Pacific Kansas City from a sector perform rating to a sector outperform rating in a research report on Wednesday, July 10th. Barclays upped their price target on 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. Evercore ISI lifted their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an outperform rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group dropped their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $97.90.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP opened at $82.08 on Wednesday. The stock has a market capitalization of $76.61 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. 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’s 50 day simple moving average is $82.47 and its 200 day simple moving average is $81.94. Canadian Pacific Kansas City has a 1 year low of $68.92 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 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 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. As a group, research analysts predict that Canadian Pacific Kansas City will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $0.1373 dividend. This represents a $0.55 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CP. Vanguard Group Inc. lifted its position in Canadian Pacific Kansas City by 1.7% during the first quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock valued at $3,079,474,000 after buying an additional 588,701 shares during the period. TD Asset Management Inc lifted its position in Canadian Pacific Kansas City by 2.5% during the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock valued at $1,915,196,000 after acquiring an additional 532,303 shares during the period. Bank of Montreal Can boosted its stake in Canadian Pacific Kansas City by 2.8% during the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after acquiring an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Canadian Pacific Kansas City by 5.5% in the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after purchasing an additional 723,188 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Canadian Pacific Kansas City by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after buying an additional 216,062 shares during 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.