CIBC Issues Pessimistic Forecast for Canadian Pacific Kansas City (TSE:CP) Stock Price

Key Points

• Analysts at CIBC reduced the price target for Canadian Pacific Kansas City from C$124.00 to C$122.00, suggesting a potential upside of 19.47% from its previous close.
• Despite the price target cut, CIBC maintains an "outperform" rating for the stock, which has a consensus rating of "Moderate Buy" among analysts.
• In insider activity, Senior Officer James Dominic Luther Clements sold 15,971 shares at an average price of C$113.33, totaling approximately C$1.81 million.

Canadian Pacific Kansas City (TSE:CP - Free Report) NYSE: CP had its price objective lowered by CIBC from C$124.00 to C$122.00 in a report released on Thursday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. Raymond James Financial increased their price objective on Canadian Pacific Kansas City from C$115.00 to C$120.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. The Goldman Sachs Group lowered Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 2nd. Royal Bank Of Canada decreased their price target on Canadian Pacific Kansas City from C$122.00 to C$121.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. UBS Group raised their price target on Canadian Pacific Kansas City from C$113.00 to C$116.00 in a research note on Thursday, May 1st. Finally, Scotiabank raised their price target on Canadian Pacific Kansas City from C$115.00 to C$120.00 in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$119.46.

Canadian Pacific Kansas City Price Performance

Shares of CP traded down C$1.34 during trading hours on Thursday, reaching C$100.56. 1,609,193 shares of the company traded hands, compared to its average volume of 1,617,576. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 49.64. The stock has a market capitalization of C$93.99 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. Canadian Pacific Kansas City has a fifty-two week low of C$94.60 and a fifty-two week high of C$119.20. The stock has a fifty day simple moving average of C$109.20 and a 200 day simple moving average of C$107.74.

Canadian Pacific Kansas City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a dividend of $0.228 per share. This represents a $0.91 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.06%.

Insider Activity

In related news, Senior Officer Maeghan Dawn Albiston sold 12,950 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of C$112.04, for a total transaction of C$1,450,853.25. Also, Senior Officer John Kenneth Brooks sold 37,420 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of C$111.43, for a total value of C$4,169,691.14. Insiders sold a total of 343,599 shares of company stock worth $38,107,437 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

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.