Scotiabank Cuts Canadian Pacific Kansas City (TSE:CP) Price Target to C$119.00

Canadian Pacific Kansas City (TSE:CP) (NYSE:CP) had its target price lowered by Scotiabank from C$122.00 to C$119.00 in a research report report published on Friday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. CIBC decreased their price target on Canadian Pacific Kansas City from C$124.00 to C$122.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on Canadian Pacific Kansas City from C$125.00 to C$131.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Desjardins lowered their target price on Canadian Pacific Kansas City from C$124.00 to C$123.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Raymond James Financial boosted their price target on shares of Canadian Pacific Kansas City from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Finally, TD Securities upped their price target on shares of Canadian Pacific Kansas City from C$117.00 to C$118.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City has an average rating of “Buy” and an average target price of C$119.54.

Canadian Pacific Kansas City Trading Up 2.2%

Shares of TSE:CP opened at C$108.27 on Friday. The company has a 50 day moving average of C$103.87 and a 200-day moving average of C$105.66. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 49.64. The firm has a market cap of C$99.39 billion, a P/E ratio of 24.11, a P/E/G ratio of 2.32 and a beta of 1.03. Canadian Pacific Kansas City has a twelve month low of C$94.60 and a twelve month high of C$118.80.

Canadian Pacific Kansas City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Monday, October 27th will be given a $0.228 dividend. This represents a $0.91 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.77%.

About Canadian Pacific Kansas City

Canadian Pacific is a CAD 8 billion Class-1 railroads operating on more than 12,500 miles of track across most of Canada and into parts of the Midwestern and Northeastern United States. It is the second-smallest Class I railroad by revenue and route miles. In 2021, CP hauled shipments of grain (22% of freight revenue), intermodal containers (22%), energy products (like crude and frac sand), chemicals, and plastics (20%) coal (8%), fertilizer and potash (10%), automotive products (5%), and a diverse mix of other merchandise.