Scotiabank Forecasts Strong Price Appreciation for Canadian Pacific Kansas City (TSE:CP) Stock

Canadian Pacific Kansas City (TSE:CP - Free Report) NYSE: CP had its price objective raised by Scotiabank from C$115.00 to C$120.00 in a report released on Thursday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on CP. National Bankshares boosted their target price on Canadian Pacific Kansas City from C$117.00 to C$119.00 in a report on Wednesday. Royal Bank Of Canada reduced their price target on shares of Canadian Pacific Kansas City from C$122.00 to C$121.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lowered shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 2nd. UBS Group lifted their price target on shares of Canadian Pacific Kansas City from C$113.00 to C$116.00 in a research report on Thursday, May 1st. Finally, CIBC lifted their price target on shares of Canadian Pacific Kansas City from C$119.00 to C$124.00 in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average target price of C$120.23.

Canadian Pacific Kansas City Price Performance

Shares of TSE:CP traded down C$0.97 during trading on Thursday, reaching C$111.69. 1,224,474 shares of the company's stock traded hands, compared to its average volume of 1,612,602. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 49.64. 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 firm has a market cap of C$104.40 billion, a PE ratio of 29.49, a P/E/G ratio of 2.32 and a beta of 0.79. The company has a 50-day simple moving average of C$109.94 and a 200-day simple moving average of C$107.76.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, July 28th will be issued a $0.228 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.19. This represents a $0.91 annualized dividend and a yield of 0.82%. Canadian Pacific Kansas City's payout ratio is 20.06%.

Insider Activity

In other news, Senior Officer John Kenneth Brooks sold 37,420 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$111.43, for a total transaction of C$4,169,691.14. Also, Senior Officer Keith E. Creel sold 170,227 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$110.59, for a total value of C$18,825,910.53. Insiders sold a total of 343,599 shares of company stock valued at $38,107,437 in the last three months. Company insiders own 0.03% of the company's stock.

Canadian Pacific Kansas City Company Profile

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.