Posted by MarketBeat News on Oct 1st, 2023
Several other brokerages also recently issued reports on CP. Evercore ISI boosted their price objective on Canadian Pacific Kansas City from $85.00 to $86.00 and gave the stock an outperform rating in a research report on Thursday, September 21st. Morgan Stanley initiated coverage on shares of Canadian Pacific Kansas City in a research note on Tuesday, September 5th. They set an equal weight rating and a $100.00 target price on the stock. CSFB upped their price target on shares of Canadian Pacific Kansas City from $87.00 to $88.00 and gave the stock a neutral rating in a research note on Wednesday, August 9th. Credit Suisse Group upped their price objective on shares of Canadian Pacific Kansas City from $87.00 to $88.00 and gave the stock a neutral rating in a report on Wednesday, August 9th. Finally, Susquehanna upped their price target on shares of Canadian Pacific Kansas City from $95.00 to $98.00 and gave the company a positive rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $94.36.
Canadian Pacific Kansas City Stock Down 0.3 %
Shares of Canadian Pacific Kansas City stock opened at $74.41 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.67 and a debt-to-equity ratio of 0.52. The firm has a market cap of $69.32 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.63 and a beta of 1.01. Canadian Pacific Kansas City has a fifty-two week low of $65.17 and a fifty-two week high of $85.40. The business has a 50-day moving average price of $79.18 and a 200 day moving average price of $78.89.
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.07). The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.47 billion. Canadian Pacific Kansas City had a net margin of 41.92% and a return on equity of 8.92%. On average, sell-side analysts forecast that Canadian Pacific Kansas City will post 2.89 earnings per share for the current fiscal year.
Canadian Pacific Kansas City Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be issued a dividend of $0.1437 per share. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.57 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, September 28th. Canadian Pacific Kansas City’s dividend payout ratio is currently 16.57%.
Institutional Trading of Canadian Pacific Kansas City
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carolinas Wealth Consulting LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter valued at about $25,000. Stonebridge Capital Advisors LLC raised its position in shares of Canadian Pacific Kansas City by 750.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 340 shares of the transportation company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. BerganKDV Wealth Management LLC grew its holdings in shares of Canadian Pacific Kansas City by 193.9% in the first quarter. BerganKDV Wealth Management LLC now owns 338 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 223 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the third quarter valued at $29,000. Finally, Motco purchased a new position in shares of Canadian Pacific Kansas City in the first quarter valued at $32,000. 67.93% of the stock is owned by hedge funds and other institutional investors.
About Canadian Pacific Kansas City
Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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