Canadian Pacific Kansas City Limited to Post Q3 2023 Earnings of $0.68 Per Share, Raymond James Forecasts (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Equities researchers at Raymond James cut their Q3 2023 earnings estimates for Canadian Pacific Kansas City in a report released on Thursday, September 14th. Raymond James analyst S. Hansen now expects that the transportation company will earn $0.68 per share for the quarter, down from their previous forecast of $0.79. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $2.92 per share. Raymond James also issued estimates for Canadian Pacific Kansas City’s FY2023 earnings at $2.78 EPS and FY2024 earnings at $3.44 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Thursday, July 27th. The transportation company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.07). The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Canadian Pacific Kansas City had a return on equity of 8.92% and a net margin of 41.92%.

A number of other equities analysts also recently issued reports on CP. The Goldman Sachs Group began coverage on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 6th. They issued a “buy” rating for the company. Susquehanna raised their target price on shares of Canadian Pacific Kansas City from $95.00 to $98.00 and gave the company a “positive” rating in a research note on Friday, July 28th. Morgan Stanley began coverage on shares of Canadian Pacific Kansas City in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $100.00 target price for the company. StockNews.com began coverage on shares of Canadian Pacific Kansas City in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Credit Suisse Group raised their target price on shares of Canadian Pacific Kansas City from $87.00 to $88.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.87.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $79.89 on Friday. Canadian Pacific Kansas City has a 1-year low of $65.17 and a 1-year high of $85.40. The firm has a market cap of $74.42 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.71 and a beta of 1.01. The firm has a 50-day moving average of $79.88 and a 200-day moving average of $78.80. The company has a current ratio of 0.67, a quick ratio of 0.58 and a debt-to-equity ratio of 0.52.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.1437 per share. This represents a $0.57 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, September 28th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 16.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CP. Carolinas Wealth Consulting LLC bought a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth about $25,000. BerganKDV Wealth Management LLC boosted its position in Canadian Pacific Kansas City by 193.9% in the 1st quarter. BerganKDV Wealth Management LLC now owns 338 shares of the transportation company’s stock valued at $26,000 after buying an additional 223 shares during the period. Stonebridge Capital Advisors LLC boosted its position in Canadian Pacific Kansas City by 750.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 340 shares of the transportation company’s stock valued at $25,000 after buying an additional 300 shares during the period. McIlrath & Eck LLC purchased a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at about $32,000. Finally, Motco purchased a new stake in Canadian Pacific Kansas City in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 67.93% 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 and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.