Canadian Pacific Kansas City (NYSE:CP) Price Target Cut to $92.00 by Analysts at Bank of America

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target lowered by Bank of America from $97.00 to $92.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other analysts have also recently issued reports on the company. Scotiabank reiterated a sector perform rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Jefferies Financial Group began coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a buy rating and a $105.00 price target on the stock. Raymond James upped their target price on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an outperform rating in a research report on Monday. StockNews.com raised Canadian Pacific Kansas City from a sell rating to a hold rating in a research report on Wednesday, January 31st. Finally, Susquehanna cut their target price on Canadian Pacific Kansas City from $84.00 to $80.00 and set a neutral 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $0.08 during mid-day trading on Thursday, reaching $82.01. 991,236 shares of the company’s stock were exchanged, compared to its average volume of 2,103,371. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.46. The business’s fifty day simple moving average is $87.11 and its 200-day simple moving average is $79.74. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The stock has a market capitalization of $76.48 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its 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 business 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, equities research analysts expect that Canadian Pacific Kansas City will post 3.2 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors 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 yield of 0.69%. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CP. Sands Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City in the third quarter worth $31,000. Anchor Investment Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at $40,000. Independence Bank of Kentucky acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at $43,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at $45,000. Finally, Rational Advisors LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at $52,000. 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.