Citigroup Cuts Canadian Pacific Kansas City (NYSE:CP) Price Target to $91.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price dropped by equities researchers at Citigroup from $98.00 to $91.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s target price suggests a potential upside of 18.34% from the company’s current price.

Several other equities research analysts have also recently issued reports on CP. Stifel Nicolaus cut their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Stephens reduced their price objective on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their price target for the company from $94.00 to $92.00 in a research report on Thursday, October 24th. Bank of America cut 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 report on Thursday, October 24th. Finally, Jefferies Financial Group cut their price target on shares of 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. Eight investment 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, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.68.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock traded down $0.50 during midday trading on Tuesday, reaching $76.90. 811,896 shares of the company’s stock were exchanged, compared to its average volume of 2,134,814. Canadian Pacific Kansas City has a 52 week low of $69.08 and a 52 week high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The firm has a market cap of $71.77 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 2.30 and a beta of 0.98. The stock’s 50-day simple moving average is $82.07 and its 200 day simple moving average is $80.77.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect that Canadian Pacific Kansas City will post 3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several institutional investors and hedge funds have recently added to or reduced their stakes in CP. Vanguard Group Inc. boosted its holdings in Canadian Pacific Kansas City by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after buying an additional 588,701 shares during the period. Bank of Montreal Can boosted its holdings in Canadian Pacific Kansas City by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after buying an additional 533,792 shares during the period. 1832 Asset Management L.P. boosted its holdings in Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after purchasing an additional 723,188 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Canadian Pacific Kansas City by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after purchasing an additional 216,062 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Canadian Pacific Kansas City by 8.2% in the 1st quarter. Clearbridge Investments LLC now owns 8,203,273 shares of the transportation company’s stock valued at $723,523,000 after purchasing an additional 622,106 shares during the period. 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.