Stephens upgraded shares of Canadian Pacific Kansas City (NYSE:CP – Free Report) (TSE:CP) from an equal weight rating to an overweight rating in a research report released on Monday morning, Marketbeat.com reports. Stephens currently has $88.00 price objective on the transportation company’s stock, up from their prior price objective of $81.00.
CP has been the subject of several other reports. Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Bank of America dropped their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein reduced their price objective on 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. Finally, Evercore ISI boosted their target price on 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and an average target price of $93.79.
Check Out Our Latest Research Report on Canadian Pacific Kansas City
Canadian Pacific Kansas City Trading Up 3.2 %
Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business earned $0.69 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is currently 20.00%.
Institutional Trading of Canadian Pacific Kansas City
Several hedge funds have recently added to or reduced their stakes in CP. Private Advisor Group LLC increased its stake in Canadian Pacific Kansas City by 11.5% during the second quarter. Private Advisor Group LLC now owns 10,918 shares of the transportation company’s stock valued at $860,000 after acquiring an additional 1,130 shares during the period. Savant Capital LLC boosted its holdings in Canadian Pacific Kansas City by 1.2% during the second quarter. Savant Capital LLC now owns 27,450 shares of the transportation company’s stock valued at $2,161,000 after purchasing an additional 334 shares in the last quarter. Norden Group LLC grew its stake in shares of Canadian Pacific Kansas City by 26.9% in the 2nd quarter. Norden Group LLC now owns 4,407 shares of the transportation company’s stock valued at $347,000 after purchasing an additional 935 shares during the period. Chris Bulman Inc acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $35,000. Finally, Acadian Asset Management LLC lifted its position in shares of Canadian Pacific Kansas City by 521.3% during the 2nd quarter. Acadian Asset Management LLC now owns 36,036 shares of the transportation company’s stock worth $2,836,000 after buying an additional 30,236 shares during the period. 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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