Wells Fargo & Company Issues Pessimistic Forecast for Canadian Pacific Kansas City (NYSE:CP) Stock Price

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price reduced by Wells Fargo & Company from $92.00 to $90.00 in a report released on Tuesday, Marketbeat.com reports. The firm presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 17.97% from the company’s current price.

Several other analysts have also commented on CP. Sanford C. Bernstein dropped their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their target price for the company from $94.00 to $92.00 in a report on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Stephens raised shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $81.00 to $88.00 in a report on Monday. Finally, StockNews.com downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Wednesday, December 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.56.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $76.29 on Tuesday. The company has a 50 day simple moving average of $75.17 and a two-hundred day simple moving average of $79.38. The stock has a market cap of $71.21 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 2.26 and a beta of 0.96. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a 12 month low of $70.89 and a 12 month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. As a group, analysts predict that Canadian Pacific Kansas City will post 3.05 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in shares of Canadian Pacific Kansas City by 2.8% in the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after buying an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after acquiring an additional 723,188 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Canadian Pacific Kansas City by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock worth $909,721,000 after purchasing an additional 216,062 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Canadian Pacific Kansas City by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company’s stock worth $750,046,000 after purchasing an additional 381,594 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Canadian Pacific Kansas City by 9.7% in the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock valued at $501,219,000 after purchasing an additional 537,418 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.