Raymond James Research Analysts Decrease Earnings Estimates for Canadian Pacific Kansas City Limited (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Research analysts at Raymond James cut their Q3 2023 earnings per share (EPS) estimates for shares of Canadian Pacific Kansas City in a research report issued to clients and investors on Thursday, September 14th. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings of $0.68 per share for the quarter, down from their prior estimate of $0.79. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $2.92 per share. Raymond James also issued estimates for Canadian Pacific Kansas City’s FY2023 earnings at $2.78 EPS and FY2024 earnings at $3.44 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.07). Canadian Pacific Kansas City had a net margin of 41.92% and a return on equity of 8.92%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.47 billion.

CP has been the topic of a number of other reports. The Goldman Sachs Group started coverage on Canadian Pacific Kansas City in a report on Tuesday, June 6th. They issued a “buy” rating on the stock. StockNews.com started coverage on Canadian Pacific Kansas City in a research report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley started coverage on Canadian Pacific Kansas City in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $100.00 target price for the company. CSFB upped their target price on Canadian Pacific Kansas City from $87.00 to $88.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Finally, Susquehanna upped their target price on Canadian Pacific Kansas City from $95.00 to $98.00 and gave the company a “positive” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.87.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $79.94 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.67 and a quick ratio of 0.58. The stock’s fifty day moving average price is $79.88 and its two-hundred day moving average price is $78.80. Canadian Pacific Kansas City has a one year low of $65.17 and a one year high of $85.40. The firm has a market cap of $74.47 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.71 and a beta of 1.01.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several large investors have recently bought and sold shares of the company. Carolinas Wealth Consulting LLC acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at about $25,000. Stonebridge Capital Advisors LLC increased its stake in shares of Canadian Pacific Kansas City by 750.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 340 shares of the transportation company’s stock valued at $25,000 after buying an additional 300 shares during the period. BerganKDV Wealth Management LLC increased its stake in shares of Canadian Pacific Kansas City by 193.9% in the first quarter. BerganKDV Wealth Management LLC now owns 338 shares of the transportation company’s stock valued at $26,000 after buying an additional 223 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the third quarter valued at about $29,000. Finally, Motco acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at about $32,000. 67.93% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a $0.1437 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.57 annualized dividend and a yield of 0.72%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 16.57%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.