Citigroup Cuts Canadian Pacific Kansas City (NYSE:CP) Price Target to $91.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target decreased by Citigroup from $98.00 to $91.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI boosted their target price on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their price objective for the stock from $94.00 to $92.00 in a research note on Thursday, October 24th. Jefferies Financial Group decreased their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Sanford C. Bernstein reduced their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Finally, Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.68.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $1.64 during mid-day trading on Tuesday, hitting $74.23. 985,382 shares of the company’s stock were exchanged, compared to its average volume of 2,163,988. The business’s 50 day moving average is $81.62 and its two-hundred day moving average is $80.67. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $69.28 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.25 and a beta of 0.98. Canadian Pacific Kansas City has a fifty-two week low of $69.27 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. Canadian Pacific Kansas City’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, equities analysts expect that Canadian Pacific Kansas City will post 3.06 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.75%. Canadian Pacific Kansas City’s dividend payout ratio is 19.64%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Grove Bank & Trust grew its position in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after acquiring an additional 130 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Canadian Pacific Kansas City by 246.9% during the third quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock valued at $34,000 after buying an additional 279 shares during the last quarter. LRI Investments LLC acquired a new position in Canadian Pacific Kansas City during the 1st quarter valued at approximately $32,000. FSA Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the third quarter worth $34,000. Finally, Chris Bulman Inc acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at about $35,000. Hedge funds and other 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.