Canadian Pacific Kansas City (NYSE:CP) Given New $92.00 Price Target at Bank of America

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price reduced by Bank of America from $97.00 to $92.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities analysts have also recently weighed in on the company. Susquehanna cut their price objective on Canadian Pacific Kansas City from $84.00 to $80.00 and set a neutral rating for the company in a research report on Thursday. StockNews.com upgraded Canadian Pacific Kansas City from a sell rating to a hold rating in a report on Wednesday, January 31st. Raymond James raised their price objective on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an outperform rating in a research note on Monday, April 22nd. TD Securities cut shares of Canadian Pacific Kansas City from a buy rating to a hold rating in a research note on Monday, January 8th. Finally, Susquehanna Bancshares lowered shares of Canadian Pacific Kansas City from a positive rating to a neutral rating and decreased their price target for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of Moderate Buy and a consensus price target of $96.42.

Canadian Pacific Kansas City Stock Down 0.5 %

Canadian Pacific Kansas City stock opened at $81.68 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City has a 1-year low of $68.92 and a 1-year high of $91.58. The firm’s fifty day simple moving average is $87.04 and its 200-day simple moving average is $79.85. The company has a market capitalization of $76.18 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.11 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Sell-side analysts forecast that Canadian Pacific Kansas City will post 3.16 earnings per share 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. Stockholders of record on Friday, June 28th will be paid a $0.141 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.95%.

Institutional Investors Weigh In On Canadian Pacific Kansas City

A number of hedge funds have recently made changes to their positions in CP. Sands Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City in the third quarter valued at approximately $31,000. Anchor Investment Management LLC acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $40,000. Independence Bank of Kentucky bought a new position in Canadian Pacific Kansas City in the 4th quarter valued at $43,000. McGlone Suttner Wealth Management Inc. acquired a new position in Canadian Pacific Kansas City in the fourth quarter worth $45,000. Finally, Rational Advisors LLC bought a new stake in shares of Canadian Pacific Kansas City during the first quarter worth $52,000. 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.