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

by · The Markets Daily

Investment analysts at Citigroup initiated coverage on shares of Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) in a research note issued on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $97.00 price target on the transportation company’s stock. Citigroup’s price target suggests a potential upside of 19.46% from the company’s current price.

A number of other analysts also recently commented on CP. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Susquehanna upped their price target on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Evercore ISI lifted their price objective 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. 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 report on Wednesday, July 17th. Finally, Barclays boosted their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.96.

Read Our Latest Stock Analysis on CP

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $81.20 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The business has a fifty day moving average of $82.38 and a 200-day moving average of $81.99. The stock has a market cap of $75.76 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping 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 return on equity of 8.77% and a net margin of 24.45%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts predict that Canadian Pacific Kansas City will post 3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CP. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Canadian Pacific Kansas City by 757.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the transportation company’s stock worth $342,191,000 after purchasing an additional 3,801,910 shares in the last quarter. Mirova US LLC acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Canadian Pacific Kansas City by 398.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after acquiring an additional 1,678,784 shares during the last quarter. Cantillon Capital Management LLC raised its position in shares of Canadian Pacific Kansas City by 49.1% during the 1st quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after acquiring an additional 1,174,200 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its stake in Canadian Pacific Kansas City by 8,261.4% during the second quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after purchasing an additional 932,216 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Company Profile

(Get Free Report)

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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