Q2 2024 EPS Estimates for Canadian Pacific Kansas City Limited (NYSE:CP) Raised by Desjardins

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Investment analysts at Desjardins boosted their Q2 2024 earnings per share (EPS) estimates for Canadian Pacific Kansas City in a research note issued on Wednesday, April 24th. Desjardins analyst B. Poirier now expects that the transportation company will earn $0.69 per share for the quarter, up from their previous forecast of $0.67. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.18 per share. Desjardins also issued estimates for Canadian Pacific Kansas City’s Q4 2024 earnings at $0.95 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly 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). Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion.

A number of other analysts have also recently weighed in on CP. Bank of America reduced their target price on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna Bancshares lowered Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $87.00 in a research note on Monday, January 8th. Raymond James boosted their target price on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Jefferies Financial Group initiated coverage on Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $81.68 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.46. The firm’s 50 day moving average is $87.04 and its 200-day moving average is $79.85. Canadian Pacific Kansas City has a 12-month low of $68.92 and a 12-month high of $91.58. The stock has a market capitalization of $76.18 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.12 and a beta of 0.94.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders 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 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 have recently modified their holdings of CP. Vanguard Group Inc. grew its stake in shares of Canadian Pacific Kansas City by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 34,337,847 shares of the transportation company’s stock valued at $2,714,750,000 after buying an additional 585,049 shares in the last quarter. FMR LLC grew its position in Canadian Pacific Kansas City by 1.8% in the third quarter. FMR LLC now owns 31,001,865 shares of the transportation company’s stock worth $2,304,549,000 after acquiring an additional 553,163 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after purchasing an additional 6,835,271 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Canadian Pacific Kansas City by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock worth $1,122,370,000 after purchasing an additional 787,608 shares during the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of Canadian Pacific Kansas City by 1.8% during the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock valued at $1,062,148,000 after purchasing an additional 243,210 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.