Raymond James Raises Canadian Pacific Kansas City (NYSE:CP) Price Target to $130.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective hoisted by Raymond James from $120.00 to $130.00 in a report published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock. Raymond James also issued estimates for Canadian Pacific Kansas City’s Q1 2024 earnings at $0.69 EPS, Q2 2024 earnings at $0.75 EPS, Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.17 EPS and FY2025 earnings at $3.76 EPS.

Several other equities analysts also recently weighed in on CP. Jefferies Financial Group assumed coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a buy rating and a $105.00 price target for the company. Barclays raised their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Stifel Nicolaus raised their price target on Canadian Pacific Kansas City from $80.00 to $83.00 and gave the stock a hold rating in a research report on Friday, April 12th. Susquehanna dropped their price target on Canadian Pacific Kansas City from $85.00 to $84.00 and set a neutral rating for the company in a research report on Thursday, March 28th. Finally, Benchmark reissued a hold rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, April 10th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $97.22.

Canadian Pacific Kansas City Stock Performance

CP opened at $81.93 on Monday. The stock has a market cap of $76.41 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.22 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.46. The stock’s 50 day simple moving average is $87.18 and its 200 day simple moving average is $79.73. Canadian Pacific Kansas City has a 1-year low of $68.92 and a 1-year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.52% and a net margin of 31.29%. As a group, equities analysts anticipate that Canadian Pacific Kansas City will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be given a $0.1415 dividend. The ex-dividend date is Wednesday, March 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.57 annualized dividend and a yield of 0.69%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.83%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Canadian Pacific Kansas City by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 34,337,847 shares of the transportation company’s stock worth $2,714,750,000 after acquiring an additional 585,049 shares during the last quarter. FMR LLC increased its position in shares of Canadian Pacific Kansas City by 1.8% during the third quarter. FMR LLC now owns 31,001,865 shares of the transportation company’s stock worth $2,304,549,000 after acquiring an additional 553,163 shares during the last quarter. TD Asset Management Inc increased its position in shares of Canadian Pacific Kansas City by 47.7% during the fourth quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after acquiring an additional 6,835,271 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Canadian Pacific Kansas City by 5.9% during the fourth quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock worth $1,122,370,000 after acquiring an additional 787,608 shares during the last quarter. Finally, Veritas Asset Management LLP increased its position in shares of Canadian Pacific Kansas City by 1.8% during the fourth quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after acquiring an additional 243,210 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.