Canadian Pacific Kansas City (NYSE:CP) Price Target Raised to $90.00 at Bank of America

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective upped by Bank of America from $82.00 to $90.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

CP has been the subject of a number of other research reports. Citigroup cut their target price on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Susquehanna boosted their price target on shares of Canadian Pacific Kansas City from $88.00 to $90.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, May 1st. Evercore ISI lowered their price target on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price target on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.63.

Canadian Pacific Kansas City Stock Up 0.1%

CP stock opened at $81.59 on Friday. The stock has a market capitalization of $75.92 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.00 and a beta of 1.09. The firm has a 50-day simple moving average of $73.33 and a 200-day simple moving average of $75.12. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a 52 week low of $66.49 and a 52 week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. Equities analysts forecast that Canadian Pacific Kansas City will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a $0.1644 dividend. This represents a $0.66 annualized dividend and a yield of 0.81%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City’s payout ratio is presently 21.28%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Institutional investors and hedge funds have recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $2,602,000. Oak Family Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $262,000. Barclays PLC raised its stake in shares of Canadian Pacific Kansas City by 2.8% in the 3rd quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock valued at $250,602,000 after acquiring an additional 81,111 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $249,000. Finally, Phraction Management LLC raised its stake in shares of Canadian Pacific Kansas City by 53.6% in the 4th quarter. Phraction Management LLC now owns 13,306 shares of the transportation company’s stock valued at $963,000 after acquiring an additional 4,641 shares during the period. 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.