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

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

Several other equities research analysts also recently weighed in on CP. Benchmark reaffirmed a hold rating on shares of Canadian Pacific Kansas City in a report on Thursday. TD Securities lowered shares of Canadian Pacific Kansas City from a buy rating to a hold rating in a research note on Monday, January 8th. Raymond James increased their price objective on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an outperform rating in a report on Monday, April 22nd. Jefferies Financial Group started coverage on Canadian Pacific Kansas City in a report on Monday, April 8th. They set a buy rating and a $105.00 target price on the stock. Finally, Bank of America decreased their price target on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a buy rating on the stock in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $96.42.

Canadian Pacific Kansas City Stock Down 0.5 %

CP stock opened at $81.68 on Thursday. The firm’s 50-day simple moving average is $87.04 and its 200 day simple moving average is $79.85. The stock has a market cap of $76.18 billion, a PE ratio of 26.18, a price-to-earnings-growth 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. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. As a group, sell-side analysts predict that Canadian Pacific Kansas City will post 3.16 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several institutional investors have recently made changes to their positions in CP. Capital Investment Advisors LLC acquired a new position in Canadian Pacific Kansas City in the 3rd quarter valued at $259,000. Ballast Advisors LLC boosted its holdings in Canadian Pacific Kansas City by 2.8% during the third quarter. Ballast Advisors LLC now owns 9,341 shares of the transportation company’s stock valued at $695,000 after acquiring an additional 254 shares during the period. Quaker Wealth Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the third quarter valued at about $223,000. U.S. Capital Wealth Advisors LLC increased its stake in shares of Canadian Pacific Kansas City by 15.6% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 14,803 shares of the transportation company’s stock worth $1,102,000 after purchasing an additional 2,000 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in shares of Canadian Pacific Kansas City by 4.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,556 shares of the transportation company’s stock worth $265,000 after purchasing an additional 141 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.