Canadian Pacific Kansas City (TSE:CP) Share Price Passes Below 200-Day Moving Average - Here's Why

Canadian Pacific Kansas City Limited (TSE:CP - Get Free Report) NYSE: CP's share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$105.83 and traded as low as C$105.01. Canadian Pacific Kansas City shares last traded at C$107.04, with a volume of 1,061,143 shares.

Analysts Set New Price Targets

Several brokerages have commented on CP. JPMorgan Chase & Co. boosted their price target on shares of Canadian Pacific Kansas City from C$131.00 to C$137.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Scotiabank dropped their price target on shares of Canadian Pacific Kansas City from C$122.00 to C$119.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Desjardins dropped their price target on shares of Canadian Pacific Kansas City from C$123.00 to C$120.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. ATB Capital boosted their price objective on Canadian Pacific Kansas City from C$123.00 to C$124.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, National Bankshares raised their target price on shares of Canadian Pacific Kansas City from C$119.00 to C$124.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$119.77.

Canadian Pacific Kansas City Stock Performance

The company has a debt-to-equity ratio of 49.64, a quick ratio of 0.42 and a current ratio of 0.53. The firm has a 50 day moving average of C$104.42 and a 200-day moving average of C$105.83. The stock has a market capitalization of C$98.26 billion, a PE ratio of 23.84, a P/E/G ratio of 2.32 and a beta of 1.03.

Canadian Pacific Kansas City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 27th will be issued a dividend of $0.228 per share. This represents a $0.91 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 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.

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