Equities Analysts Issue Forecasts for Canadian Pacific Kansas City Limited’s Q2 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Equities research analysts at Raymond James reduced their Q2 2024 earnings per share estimates for Canadian Pacific Kansas City in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $0.75 per share for the quarter, down from their prior estimate of $0.81. Raymond James has a “Outperform” rating and a $130.00 price target on the stock. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.21 per share. Raymond James also issued estimates for Canadian Pacific Kansas City’s Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $0.93 EPS and FY2025 earnings at $3.76 EPS.

Several other equities research analysts also recently issued reports on CP. Susquehanna Bancshares downgraded Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, April 10th. Stifel Nicolaus increased their price target on Canadian Pacific Kansas City from $80.00 to $83.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, TD Securities downgraded Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.22.

Canadian Pacific Kansas City Trading Up 1.5 %

NYSE CP opened at $87.72 on Wednesday. Canadian Pacific Kansas City has a 12 month low of $68.92 and a 12 month high of $91.58. The stock has a 50-day simple moving average of $87.24 and a 200 day simple moving average of $79.71. The company has a market capitalization of $81.81 billion, a PE ratio of 27.94, a P/E/G ratio of 2.17 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Tuesday, January 30th. The transportation company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.52% and a net margin of 31.29%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $979,890,000. TD Asset Management Inc raised its stake in Canadian Pacific Kansas City by 47.7% in the fourth quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock valued at $1,682,256,000 after buying an additional 6,835,271 shares during the period. Legal & General Group Plc bought a new stake in Canadian Pacific Kansas City in the third quarter valued at approximately $481,016,000. Sustainable Growth Advisers LP raised its stake in Canadian Pacific Kansas City by 151.4% in the third quarter. Sustainable Growth Advisers LP now owns 7,847,292 shares of the transportation company’s stock valued at $583,917,000 after buying an additional 4,726,098 shares during the period. Finally, Causeway Capital Management LLC bought a new stake in Canadian Pacific Kansas City in the third quarter valued at approximately $305,505,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be given a dividend of $0.1415 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.57 annualized dividend and a yield of 0.65%. Canadian Pacific Kansas City’s dividend payout ratio is 17.83%.

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.