Q2 2024 EPS Estimates for Canadian Pacific Kansas City Limited (NYSE:CP) Reduced by Raymond James

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Raymond James lowered their Q2 2024 earnings per share (EPS) estimates for Canadian Pacific Kansas City in a research report issued on Thursday, April 25th. Raymond James analyst S. Hansen now expects that the transportation company will post earnings per share of $0.74 for the quarter, down from their prior forecast 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.

A number of other brokerages have also weighed in on CP. Barclays increased their target price on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. StockNews.com upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Evercore ISI lowered their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday. Bank of America lowered their price objective on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, TD Securities lowered Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.42.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $82.09 on Friday. The firm has a market cap of $76.56 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City has a 1-year low of $68.92 and a 1-year high of $91.58. The business’s 50 day moving average is $87.11 and its 200-day moving average is $79.74.

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 for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.57% and a net margin of 28.27%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Canadian Pacific Kansas City by 12.1% in the 1st quarter. GAMMA Investing LLC now owns 1,229 shares of the transportation company’s stock worth $108,000 after acquiring an additional 133 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Canadian Pacific Kansas City by 4.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,556 shares of the transportation company’s stock valued at $265,000 after buying an additional 141 shares in the last quarter. Commerce Bank increased its holdings in Canadian Pacific Kansas City by 0.3% during the 4th quarter. Commerce Bank now owns 55,566 shares of the transportation company’s stock worth $4,393,000 after purchasing an additional 144 shares in the last quarter. Accretive Wealth Partners LLC increased its holdings in Canadian Pacific Kansas City by 1.5% during the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock worth $753,000 after purchasing an additional 145 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Canadian Pacific Kansas City by 0.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 51,089 shares of the transportation company’s stock worth $3,802,000 after purchasing an additional 148 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Cuts Dividend

The business 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 dividend of $0.141 per share. This represents a $0.56 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is presently 17.95%.

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.