Q2 2024 Earnings Forecast for Canadian Pacific Kansas City Limited (NYSE:CP) Issued By National Bank Financial

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Stock analysts at National Bank Financial increased their Q2 2024 earnings estimates for Canadian Pacific Kansas City in a research report issued to clients and investors on Wednesday, June 26th. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will post earnings per share of $0.73 for the quarter, up from their previous estimate of $0.69. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.14 per share. National Bank Financial also issued estimates for Canadian Pacific Kansas City’s Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $3.19 EPS and FY2025 earnings at $3.77 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%.

CP has been the topic of several other research reports. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, April 25th. Jefferies Financial Group started coverage on shares of Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 price target for the company. Bank of America lowered their price target 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, April 25th. Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Finally, Evercore decreased their price target on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Hold” and a consensus price target of $96.32.

Canadian Pacific Kansas City Stock Up 1.7 %

Canadian Pacific Kansas City stock opened at $78.85 on Monday. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The stock has a market cap of $73.56 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96. The firm’s 50-day simple moving average is $79.56 and its 200 day simple moving average is $82.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of large investors have recently added to or reduced their stakes in CP. Tower Research Capital LLC TRC raised its stake in shares of Canadian Pacific Kansas City by 73.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,423 shares of the transportation company’s stock worth $1,148,000 after buying an additional 6,521 shares during the period. Fred Alger Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter worth about $360,000. SRS Capital Advisors Inc. lifted its position in shares of Canadian Pacific Kansas City by 20.1% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,493 shares of the transportation company’s stock worth $185,000 after buying an additional 418 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Canadian Pacific Kansas City in the 3rd quarter valued at $3,397,000. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 176.8% in the 3rd quarter. Axxcess Wealth Management LLC now owns 8,099 shares of the transportation company’s stock valued at $603,000 after buying an additional 5,173 shares in the last quarter. 72.20% of the stock is currently 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. Stockholders of record on Friday, June 28th will be paid a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.63%.

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.