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

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 report published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the transportation company’s stock.

A number of other brokerages have also commented on CP. Bank of America decreased their price objective on Canadian Pacific Kansas City from $97.00 to $92.00 and set a buy rating on the stock in a report on Thursday. TD Securities lowered Canadian Pacific Kansas City from a buy rating to a hold rating in a report on Monday, January 8th. StockNews.com raised Canadian Pacific Kansas City from a sell rating to a hold rating in a report on Wednesday, January 31st. Raymond James upped 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. Finally, Evercore ISI decreased their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an outperform rating on the stock in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of Moderate Buy and an average price target of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock traded down $0.08 during 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 quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $76.48 billion, a PE ratio of 26.31, a PEG ratio of 2.10 and a beta of 0.94. Canadian Pacific Kansas City has a twelve month low of $68.92 and a twelve month high of $91.58. The firm’s fifty day moving average price is $87.11 and its 200-day moving average price is $79.74.

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 for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.57% and a net margin of 28.27%. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City will post 3.2 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a $0.141 dividend. The ex-dividend date of this dividend 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 Investors Weigh In On Canadian Pacific Kansas City

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $979,890,000. TD Asset Management Inc grew its stake in Canadian Pacific Kansas City by 47.7% in the fourth quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock valued at $1,682,256,000 after acquiring an additional 6,835,271 shares during the period. Legal & General Group Plc purchased a new position in shares of Canadian Pacific Kansas City during the third quarter valued at approximately $481,016,000. Sustainable Growth Advisers LP boosted its position in shares of Canadian Pacific Kansas City by 151.4% during the third quarter. Sustainable Growth Advisers LP now owns 7,847,292 shares of the transportation company’s stock valued at $583,917,000 after buying an additional 4,726,098 shares during the last quarter. Finally, Causeway Capital Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the third quarter valued at approximately $305,505,000. 72.20% of the stock is currently owned by 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.