Research Analysts Offer Predictions for Canadian Pacific Kansas City Limited’s Q3 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Raymond James cut their Q3 2024 EPS estimates for Canadian Pacific Kansas City in a research report issued on Wednesday, July 31st. Raymond James analyst S. Hansen now anticipates that the transportation company will post earnings of $0.76 per share for the quarter, down from their prior estimate of $0.80. Raymond James has a “Outperform” rating and a $130.00 price target on the stock. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.11 per share. Raymond James also issued estimates for Canadian Pacific Kansas City’s FY2024 earnings at $3.10 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Evercore lowered their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus boosted their price target on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company assumed coverage on Canadian Pacific Kansas City in a report on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Finally, Evercore ISI dropped their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.70.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $78.81 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.51. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58. The business has a 50 day simple moving average of $79.80 and a 200 day simple moving average of $82.76. The stock has a market cap of $73.53 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.27 and a beta of 0.96.

Institutional Trading of Canadian Pacific Kansas City

A number of hedge funds have recently modified their holdings of CP. LRI Investments LLC bought a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $32,000. ORG Partners LLC bought a new stake in shares of Canadian Pacific Kansas City during the second quarter worth approximately $39,000. Independence Bank of Kentucky acquired a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $43,000. Tobam bought a new position in shares of Canadian Pacific Kansas City during the first quarter worth approximately $51,000. Finally, Rational Advisors LLC bought a new position in shares of Canadian Pacific Kansas City during the first quarter worth approximately $52,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. This represents a $0.55 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is 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.