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

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Equities researchers at National Bank Financial decreased their Q2 2024 earnings per share (EPS) estimates for shares of Canadian Pacific Kansas City in a report released on Wednesday, April 24th. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will post earnings per share of $0.69 for the quarter, down from their previous estimate of $0.75. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.16 per share. National Bank Financial also issued estimates for Canadian Pacific Kansas City’s FY2024 earnings at $3.13 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued 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). 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 for the quarter, compared to the consensus estimate of $2.59 billion.

Several other equities research analysts also recently issued reports on the company. TD Securities downgraded Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Bank of America decreased their price target on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a research report on Monday, March 25th. Jefferies Financial Group began coverage on shares of Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Susquehanna Bancshares downgraded shares of Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and cut their price target for the company from $90.00 to $87.00 in a report on Monday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.42.

Canadian Pacific Kansas City Stock Down 0.5 %

CP opened at $81.68 on Monday. Canadian Pacific Kansas City has a 12 month low of $68.92 and a 12 month high of $91.58. The company has a market cap of $76.18 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $87.04 and a 200 day moving average of $79.90.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a dividend of $0.141 per share. 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 payout ratio is currently 17.95%.

Institutional Trading of Canadian Pacific Kansas City

A number of institutional investors have recently modified their holdings of CP. Norges Bank bought a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $979,890,000. TD Asset Management Inc boosted 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 valued at $1,682,256,000 after purchasing an additional 6,835,271 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Canadian Pacific Kansas City during the third quarter valued at about $481,016,000. Sustainable Growth Advisers LP raised its stake in Canadian Pacific Kansas City by 151.4% in the third quarter. Sustainable Growth Advisers LP now owns 7,847,292 shares of the transportation company’s stock worth $583,917,000 after buying an additional 4,726,098 shares in the last quarter. Finally, Causeway Capital Management LLC purchased a new stake in Canadian Pacific Kansas City in the third quarter worth about $305,505,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.