Canadian Pacific Kansas City (NYSE:CP) Cut to Hold at Scotiabank

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) was downgraded by research analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

CP has been the topic of several other reports. National Bank Financial lowered Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Evercore reduced their price target on Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. Sanford C. Bernstein raised their price target on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Wall Street Zen lowered Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. Finally, Barclays reduced their price target on Canadian Pacific Kansas City from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.45.

Canadian Pacific Kansas City Price Performance

CP opened at $81.32 on Thursday. The stock’s 50 day simple moving average is $81.77 and its 200 day simple moving average is $76.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.41. Canadian Pacific Kansas City has a 1 year low of $68.42 and a 1 year high of $89.42. The firm has a market cap of $72.56 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.74 and a beta of 1.07.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.04). Canadian Pacific Kansas City had a return on equity of 8.91% and a net margin of 27.49%.The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. Canadian Pacific Kansas City’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that Canadian Pacific Kansas City will post 3.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CP. Norges Bank purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $978,558,000. Janus Henderson Group PLC lifted its stake in shares of Canadian Pacific Kansas City by 586.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company’s stock valued at $452,781,000 after purchasing an additional 5,251,755 shares during the period. Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 18.3% in the 3rd quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company’s stock valued at $1,722,841,000 after purchasing an additional 3,585,030 shares during the period. FIL Ltd lifted its stake in shares of Canadian Pacific Kansas City by 20.2% in the 4th quarter. FIL Ltd now owns 16,666,777 shares of the transportation company’s stock valued at $1,227,045,000 after purchasing an additional 2,804,686 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Canadian Pacific Kansas City by 206.0% in the 4th quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company’s stock valued at $208,403,000 after purchasing an additional 1,905,302 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 (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.