Research Analysts Set Expectations for Canadian Pacific Kansas City Limited’s Q2 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Desjardins increased their Q2 2024 earnings estimates for shares of Canadian Pacific Kansas City in a note issued to investors on Wednesday, April 24th. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings per share of $0.69 for the quarter, up from their previous estimate of $0.67. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.20 per share. Desjardins also issued estimates for Canadian Pacific Kansas City’s Q4 2024 earnings at $0.95 EPS.

Other analysts also recently issued reports about the stock. Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Bank of America dropped their target price on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James raised their price target on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. StockNews.com raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Susquehanna Bancshares cut shares of Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $87.00 in a research note on Monday, January 8th. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $81.66 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $76.16 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. The company’s 50 day moving average price is $87.04 and its two-hundred day moving average price is $79.80. Canadian Pacific Kansas City has a 52 week low of $68.92 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.57% and a net margin of 28.27%.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.141 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.95%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CP. Capital Investment Advisors LLC bought a new position in Canadian Pacific Kansas City during the third quarter worth $259,000. Ballast Advisors LLC boosted its position in Canadian Pacific Kansas City by 2.8% during the third quarter. Ballast Advisors LLC now owns 9,341 shares of the transportation company’s stock worth $695,000 after purchasing an additional 254 shares during the period. Quaker Wealth Management LLC bought a new position in Canadian Pacific Kansas City during the third quarter worth $223,000. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Canadian Pacific Kansas City by 15.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 14,803 shares of the transportation company’s stock worth $1,102,000 after buying an additional 2,000 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Canadian Pacific Kansas City by 4.1% during the third quarter. Valeo Financial Advisors LLC now owns 3,556 shares of the transportation company’s stock worth $265,000 after buying an additional 141 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Company Profile

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.