Canadian Pacific Kansas City Limited (NYSE:CP) Forecasted to Earn Q2 2024 Earnings of $0.74 Per Share

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Analysts at Raymond James cut their Q2 2024 earnings per share estimates for shares of Canadian Pacific Kansas City in a research note issued on Thursday, April 25th. Raymond James analyst S. Hansen now anticipates that the transportation company will earn $0.74 per share for the quarter, down from their previous estimate of $0.75. Raymond James currently has a “Outperform” rating and a $130.00 target price on the stock. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.20 per share.

Several other research analysts have also issued reports on CP. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday. Barclays raised their price objective on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Evercore reduced their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research report on Thursday. Evercore ISI reduced their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and an average target price of $96.42.

Canadian Pacific Kansas City Stock Down 0.5 %

Shares of NYSE:CP opened at $81.66 on Friday. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The firm has a market capitalization of $76.16 billion, a P/E ratio of 26.17, a P/E/G ratio of 2.10 and a beta of 0.94. The stock has a 50 day moving average price of $87.04 and a 200-day moving average price of $79.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53.

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

Hedge Funds Weigh In On Canadian Pacific Kansas City

Institutional investors and hedge funds have recently modified their holdings of the company. YCG LLC boosted its stake in shares of Canadian Pacific Kansas City by 32.5% in the 4th quarter. YCG LLC now owns 372,422 shares of the transportation company’s stock worth $29,444,000 after buying an additional 91,276 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Canadian Pacific Kansas City by 15.3% in the 4th quarter. SG Americas Securities LLC now owns 96,211 shares of the transportation company’s stock worth $7,606,000 after buying an additional 12,748 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the 3rd quarter worth $7,815,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canadian Pacific Kansas City by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company’s stock valued at $24,525,000 after purchasing an additional 14,557 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Canadian Pacific Kansas City during the fourth quarter valued at $5,392,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Cuts Dividend

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

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.