Evercore ISI Trims Canadian Pacific Kansas City (NYSE:CP) Target Price to $89.00

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

A number of other brokerages have also commented on CP. TD Securities lowered shares of Canadian Pacific Kansas City from a buy rating to a hold rating in a report on Monday, January 8th. Jefferies Financial Group began coverage on Canadian Pacific Kansas City in a research note on Monday, April 8th. They issued a buy rating and a $105.00 target price on the stock. Susquehanna Bancshares downgraded Canadian Pacific Kansas City from a positive rating to a neutral rating and lowered their price target for the company from $90.00 to $87.00 in a research report on Monday, January 8th. StockNews.com upgraded Canadian Pacific Kansas City from a sell rating to a hold rating in a report on Wednesday, January 31st. Finally, Raymond James raised their price objective on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an outperform rating in a report on Monday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $96.42.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $81.68 on Thursday. The stock has a market cap of $76.18 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.11 and a beta of 0.94. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $87.04 and a 200 day simple moving average of $79.85. Canadian Pacific Kansas City has a 52 week low of $68.92 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is 17.95%.

Institutional Trading of Canadian Pacific Kansas City

A number of institutional investors have recently modified their holdings of CP. K.J. Harrison & Partners Inc lifted its stake in Canadian Pacific Kansas City by 0.6% in the first quarter. K.J. Harrison & Partners Inc now owns 90,596 shares of the transportation company’s stock worth $7,985,000 after acquiring an additional 573 shares during the period. McCollum Christoferson Group LLC increased its position in Canadian Pacific Kansas City by 4.8% during the 1st quarter. McCollum Christoferson Group LLC now owns 59,103 shares of the transportation company’s stock valued at $5,217,000 after purchasing an additional 2,720 shares during the period. Narwhal Capital Management raised its holdings in Canadian Pacific Kansas City by 1.1% in the 1st quarter. Narwhal Capital Management now owns 54,073 shares of the transportation company’s stock worth $4,768,000 after purchasing an additional 603 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth about $1,440,000. Finally, Bogart Wealth LLC boosted its stake in shares of Canadian Pacific Kansas City by 17,083.0% during the 1st quarter. Bogart Wealth LLC now owns 9,107 shares of the transportation company’s stock valued at $803,000 after purchasing an additional 9,054 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Company Profile

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.