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

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

CP has been the topic of several other research reports. Raymond James boosted their target price on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an outperform rating in a research report on Monday. Stifel Nicolaus boosted their target price on Canadian Pacific Kansas City from $80.00 to $83.00 and gave the stock a hold rating in a research report on Friday, April 12th. StockNews.com upgraded Canadian Pacific Kansas City from a sell rating to a hold rating in a research report on Wednesday, January 31st. Scotiabank reiterated a sector perform rating on shares of Canadian Pacific Kansas City in a research report on Monday, March 25th. Finally, Evercore ISI dropped their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an outperform rating on the stock in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock traded down $0.08 on Thursday, hitting $82.01. The stock had a trading volume of 991,236 shares, compared to its average volume of 2,103,371. The stock has a market cap of $76.48 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 2.10 and a beta of 0.94. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The company’s 50 day moving average price is $87.11 and its 200 day moving average price is $79.74. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.57%. On average, research analysts anticipate that Canadian Pacific Kansas City will post 3.2 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.141 per share. The ex-dividend date of this dividend 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 17.95%.

Institutional Trading of Canadian Pacific Kansas City

Several large investors have recently added to or reduced their stakes in the stock. Sands Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City during the third quarter worth about $31,000. Anchor Investment Management LLC bought a new position in shares of Canadian Pacific Kansas City during the fourth quarter worth about $40,000. Independence Bank of Kentucky bought a new position in shares of Canadian Pacific Kansas City during the fourth quarter worth about $43,000. McGlone Suttner Wealth Management Inc. bought a new position in Canadian Pacific Kansas City in the fourth quarter worth about $45,000. Finally, Rational Advisors LLC bought a new position in Canadian Pacific Kansas City in the first quarter worth about $52,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.