Q1 2024 Earnings Estimate for Canadian Pacific Railway Limited Issued By Zacks Research (NYSE:CP)

Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) – Stock analysts at Zacks Research raised their Q1 2024 earnings per share (EPS) estimates for Canadian Pacific Railway in a research note issued to investors on Monday, March 13th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $0.83 per share for the quarter, up from their prior estimate of $0.81. The consensus estimate for Canadian Pacific Railway’s current full-year earnings is $3.39 per share.

CP has been the topic of a number of other reports. National Bank Financial boosted their target price on Canadian Pacific Railway from C$105.00 to C$106.00 in a research report on Friday, December 16th. Barclays boosted their target price on Canadian Pacific Railway from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Canadian Pacific Railway from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $98.00 in a research report on Monday, November 28th. Wells Fargo & Company upped their price objective on Canadian Pacific Railway from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, February 1st. Finally, Atb Cap Markets restated an “outperform” rating on shares of Canadian Pacific Railway in a research report on Tuesday, December 20th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Canadian Pacific Railway Price Performance

NYSE:CP opened at $79.66 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $74.15 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.25 and a beta of 1.02. Canadian Pacific Railway has a 12 month low of $65.17 and a 12 month high of $84.22. The business’s 50-day moving average is $77.58 and its 200 day moving average is $75.79.

Canadian Pacific Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.1424 per share. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, March 30th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 0.72%. Canadian Pacific Railway’s dividend payout ratio is currently 19.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CP. Stonebridge Capital Advisors LLC grew its stake in Canadian Pacific Railway by 750.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 340 shares of the transportation company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. BDO Wealth Advisors LLC grew its stake in Canadian Pacific Railway by 928.6% in the fourth quarter. BDO Wealth Advisors LLC now owns 360 shares of the transportation company’s stock worth $27,000 after purchasing an additional 325 shares in the last quarter. Romano Brothers AND Company bought a new position in Canadian Pacific Railway in the fourth quarter worth approximately $29,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Canadian Pacific Railway in the third quarter worth approximately $29,000. Finally, Hexagon Capital Partners LLC grew its stake in Canadian Pacific Railway by 57.3% in the third quarter. Hexagon Capital Partners LLC now owns 453 shares of the transportation company’s stock worth $30,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 72.31% of the company’s stock.

About Canadian Pacific Railway

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Canadian Pacific Railway Ltd. operates as a holding company, which engages in the provision of rail services. It offers a suite of freight transportation services, logistics solutions and supply chain expertise. The company was founded in 1881 and is headquartered in Calgary, Canada.