Citigroup Raises Canadian Pacific Kansas City (NYSE:CP) Price Target to $98.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price upped by Citigroup from $97.00 to $98.00 in a research report released on Thursday, BayStreet.CA reports. Citigroup currently has a buy rating on the transportation company’s stock.

Other research analysts also recently issued reports about the company. Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their price objective for the stock from $94.00 to $92.00 in a research report on Thursday. Bank of America cut their price target on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday. Barclays upped their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Stifel Nicolaus reduced their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and a consensus price target of $97.78.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock traded down $0.14 during trading hours on Thursday, hitting $78.37. The stock had a trading volume of 273,169 shares, compared to its average volume of 2,101,376. Canadian Pacific Kansas City has a 1-year low of $69.07 and a 1-year high of $91.58. The stock has a market capitalization of $73.12 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 2.21 and a beta of 0.96. The stock’s fifty day moving average is $82.92 and its two-hundred day moving average is $81.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the business posted $0.69 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Canadian Pacific Kansas City will post 3.2 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, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of institutional investors have recently added to or reduced their stakes in CP. Grove Bank & Trust grew its stake in shares of Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 130 shares in the last quarter. LRI Investments LLC purchased a new position in Canadian Pacific Kansas City in the first quarter valued at about $32,000. Chris Bulman Inc purchased a new position in Canadian Pacific Kansas City in the second quarter valued at about $35,000. Asset Dedication LLC acquired a new stake in Canadian Pacific Kansas City during the 3rd quarter valued at approximately $38,000. Finally, ORG Partners LLC purchased a new stake in Canadian Pacific Kansas City during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds 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.