Citigroup Begins Coverage on Canadian Pacific Kansas City (NYSE:CP)

Citigroup began coverage on shares of Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $97.00 price objective on the transportation company’s stock.

A number of other research analysts have also recently commented on CP. Sanford C. Bernstein boosted their price target on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a market perform rating in a report on Monday, July 8th. Evercore ISI raised their target price on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. Barclays increased their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an overweight rating in a report on Wednesday, September 25th. Stifel Nicolaus lifted their target price on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the stock a hold rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group decreased their target price on Canadian Pacific Kansas City from $105.00 to $100.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of Moderate Buy and a consensus target price of $97.90.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $82.08 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a 12 month low of $68.92 and a 12 month high of $91.58. The stock has a market cap of $76.61 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.21 and a beta of 0.96. The company’s 50 day moving average is $82.47 and its two-hundred day moving average is $81.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. As a group, research analysts anticipate that Canadian Pacific Kansas City will post 3.2 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.67%. Canadian Pacific Kansas City’s dividend payout ratio is presently 19.86%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Hedge funds have recently bought and sold shares of the business. Creative Planning raised its holdings in Canadian Pacific Kansas City by 9.6% in the 3rd quarter. Creative Planning now owns 143,058 shares of the transportation company’s stock valued at $12,237,000 after acquiring an additional 12,558 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Canadian Pacific Kansas City by 10.6% in the third quarter. Sivia Capital Partners LLC now owns 3,568 shares of the transportation company’s stock valued at $305,000 after buying an additional 342 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Canadian Pacific Kansas City by 56.0% during the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares during the period. Procyon Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter valued at $259,000. Finally, Cardinal Capital Management Inc. lifted its position in shares of Canadian Pacific Kansas City by 0.6% during the third quarter. Cardinal Capital Management Inc. now owns 1,191,391 shares of the transportation company’s stock worth $102,019,000 after purchasing an additional 6,881 shares in the last quarter. Hedge funds and other institutional investors 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.