Wall Street Zen lowered shares of Canadian Pacific Kansas City (NYSE:CP – Free Report) (TSE:CP) from a hold rating to a sell rating in a report published on Saturday.
Other equities analysts have also issued reports about the stock. Citigroup cut their price target on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada decreased their target price on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group decreased their price objective on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Argus set a $90.00 price objective on shares of Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Finally, Barclays reduced their price target on shares of Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.66.
Read Our Latest Stock Analysis on CP
Canadian Pacific Kansas City Stock Down 0.9%
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last issued its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. Canadian Pacific Kansas City’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. Research analysts anticipate that Canadian Pacific Kansas City will post 3.42 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, July 28th. Stockholders of record on Friday, June 27th will be paid a $0.1644 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.66 annualized dividend and a dividend yield of 0.82%. Canadian Pacific Kansas City’s dividend payout ratio is 22.30%.
Institutional Trading of Canadian Pacific Kansas City
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Canadian Pacific Kansas City by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company’s stock worth $2,606,624,000 after purchasing an additional 364,515 shares during the period. TD Asset Management Inc raised its holdings in shares of Canadian Pacific Kansas City by 0.5% in the 1st quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company’s stock valued at $1,464,094,000 after purchasing an additional 104,077 shares in the last quarter. Causeway Capital Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 11.5% in the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock valued at $1,207,605,000 after purchasing an additional 1,778,984 shares in the last quarter. Invesco Ltd. raised its stake in Canadian Pacific Kansas City by 59.5% during the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock worth $1,192,471,000 after acquiring an additional 6,337,312 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Canadian Pacific Kansas City by 6.5% during the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company’s stock worth $1,147,220,000 after acquiring an additional 999,522 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
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.
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