CIBC Issues Pessimistic Forecast for Canadian Pacific Kansas City (TSE:CP) Stock Price

Canadian Pacific Kansas City (TSE:CP) (NYSE:CP) had its target price decreased by CIBC from C$124.00 to C$119.00 in a research note released on Thursday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on CP. ATB Capital dropped their price objective on shares of Canadian Pacific Kansas City from C$128.00 to C$124.00 and set an “outperform” rating for the company in a report on Thursday. Desjardins lifted their price target on Canadian Pacific Kansas City from C$133.00 to C$134.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Barclays reduced their price objective on Canadian Pacific Kansas City from C$130.00 to C$125.00 in a research report on Wednesday, April 2nd. Loop Capital downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, February 3rd. Finally, National Bankshares decreased their price target on shares of Canadian Pacific Kansas City from C$123.00 to C$118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$119.62.

Canadian Pacific Kansas City Stock Up 2.9 %

CP stock opened at C$103.53 on Thursday. Canadian Pacific Kansas City has a 1-year low of C$94.60 and a 1-year high of C$119.20. The stock has a market cap of C$96.77 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 49.64. The company’s 50 day moving average is C$103.72 and its 200 day moving average is C$106.78.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a $0.228 dividend. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.19. This represents a $0.91 dividend on an annualized basis and a dividend yield of 0.88%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 20.06%.

Canadian Pacific Kansas City Company Profile

Canadian Pacific is a CAD 8 billion Class-1 railroads operating on more than 12,500 miles of track across most of Canada and into parts of the Midwestern and Northeastern United States. It is the second-smallest Class I railroad by revenue and route miles. In 2021, CP hauled shipments of grain (22% of freight revenue), intermodal containers (22%), energy products (like crude and frac sand), chemicals, and plastics (20%) coal (8%), fertilizer and potash (10%), automotive products (5%), and a diverse mix of other merchandise.