Canadian Pacific Kansas City (NYSE:CP) Given New $89.00 Price Target at Evercore ISI

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective cut by Evercore ISI from $90.00 to $89.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Other equities analysts have also issued reports about the company. Barclays increased their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an overweight rating in a research note on Thursday, April 4th. Bank of America raised their price objective on Canadian Pacific Kansas City from $87.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Susquehanna Bancshares lowered Canadian Pacific Kansas City from a positive rating to a neutral rating and lowered their price objective for the company from $90.00 to $87.00 in a research note on Monday, January 8th. StockNews.com raised Canadian Pacific Kansas City from a sell rating to a hold rating in a research note on Wednesday, January 31st. Finally, Scotiabank reaffirmed a sector perform rating on shares of Canadian Pacific Kansas City in a research note on Monday, March 25th. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of Moderate Buy and an average price target of $96.42.

Canadian Pacific Kansas City Stock Down 0.4 %

Shares of CP stock traded down $0.29 during mid-day trading on Thursday, hitting $81.80. The company’s stock had a trading volume of 564,078 shares, compared to its average volume of 2,098,283. The stock has a market cap of $76.29 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The business has a 50-day moving average price of $87.11 and a 200 day moving average price of $79.74.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.57% and a net margin of 28.27%. 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 disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.141 per share. The ex-dividend date is Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several institutional investors and hedge funds have recently modified their holdings of CP. Norges Bank acquired a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth approximately $979,890,000. TD Asset Management Inc lifted its holdings in Canadian Pacific Kansas City by 47.7% in the fourth 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 Canadian Pacific Kansas City in the third quarter valued at approximately $481,016,000. Sustainable Growth Advisers LP lifted its holdings in Canadian Pacific Kansas City by 151.4% in the third 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 Canadian Pacific Kansas City in the third quarter valued at approximately $305,505,000. Hedge funds and other institutional investors 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.