Canadian Pacific Kansas City (NYSE:CP) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) from a peer perform rating to an outperform rating in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has $86.00 price target on the transportation company’s stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday. Citigroup lowered their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein cut their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $93.56.

Canadian Pacific Kansas City Stock Down 1.1 %

Shares of CP opened at $76.29 on Wednesday. The firm has a market cap of $71.21 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City has a 52 week low of $70.89 and a 52 week high of $91.58. The firm’s 50-day simple moving average is $75.17 and its 200 day simple moving average is $79.38.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results 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 firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. Canadian Pacific Kansas City’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, analysts forecast that Canadian Pacific Kansas City will post 3.05 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.00%.

Institutional Trading of Canadian Pacific Kansas City

A number of hedge funds have recently made changes to their positions in CP. S&CO Inc. raised its holdings in Canadian Pacific Kansas City by 183.3% in the 3rd quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock valued at $1,454,000 after buying an additional 11,000 shares during the last quarter. Swiss National Bank raised its stake in shares of Canadian Pacific Kansas City by 0.8% during the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock valued at $241,645,000 after acquiring an additional 23,000 shares during the last quarter. Barclays PLC lifted its holdings in shares of Canadian Pacific Kansas City by 2.8% during the third quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock worth $250,602,000 after purchasing an additional 81,111 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the second quarter worth $11,810,000. Finally, Toronto Dominion Bank grew its stake in shares of Canadian Pacific Kansas City by 20.4% in the third quarter. Toronto Dominion Bank now owns 2,083,106 shares of the transportation company’s stock worth $178,189,000 after purchasing an additional 352,534 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.