Research Analysts Offer Predictions for Canadian Pacific Kansas City Limited’s Q1 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Investment analysts at Raymond James cut their Q1 2024 earnings per share (EPS) estimates for shares of Canadian Pacific Kansas City in a research note issued on Monday, April 22nd. Raymond James analyst S. Hansen now anticipates that the transportation company will post earnings of $0.69 per share for the quarter, down from their previous estimate of $0.73. 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 $3.21 per share. Raymond James also issued estimates for Canadian Pacific Kansas City’s FY2024 earnings at $3.17 EPS.

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

Several other research firms have also recently weighed in on CP. Jefferies Financial Group assumed coverage on Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Canadian Pacific Kansas City from $80.00 to $83.00 and gave the company a “hold” rating in a report on Friday, April 12th. Bank of America lifted their price objective on Canadian Pacific Kansas City from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Barclays boosted their target price on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, TD Securities cut Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Hold” and an average price target of $97.22.

Canadian Pacific Kansas City Trading Up 2.1 %

NYSE:CP opened at $86.44 on Tuesday. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.46. The stock has a market capitalization of $80.62 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94. The business’s 50-day simple moving average is $87.14 and its 200-day simple moving average is $79.61.

Institutional Investors Weigh In On Canadian Pacific Kansas City

A number of institutional investors and hedge funds have recently made changes to their positions in CP. Dynamic Advisor Solutions LLC bought a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $237,000. CWM LLC increased its holdings in shares of Canadian Pacific Kansas City by 13.6% during the 3rd quarter. CWM LLC now owns 17,676 shares of the transportation company’s stock worth $1,315,000 after acquiring an additional 2,120 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Canadian Pacific Kansas City by 452.1% during the 3rd quarter. AdvisorNet Financial Inc now owns 519 shares of the transportation company’s stock worth $39,000 after acquiring an additional 425 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Canadian Pacific Kansas City by 3.8% during the 3rd quarter. Ritholtz Wealth Management now owns 6,790 shares of the transportation company’s stock worth $505,000 after acquiring an additional 249 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Canadian Pacific Kansas City by 7.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,690 shares of the transportation company’s stock worth $275,000 after acquiring an additional 253 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Increases Dividend

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