Desjardins Weighs in on Canadian Pacific Kansas City Limited’s Q1 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CPFree Report) (TSE:CP) – Equities researchers at Desjardins issued their Q1 2024 earnings estimates for shares of Canadian Pacific Kansas City in a note issued to investors on Wednesday, January 31st. Desjardins analyst B. Poirier anticipates that the transportation company will post earnings of $0.75 per share for the quarter. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.27 per share. Desjardins also issued estimates for Canadian Pacific Kansas City’s Q2 2024 earnings at $0.67 EPS, Q3 2024 earnings at $0.79 EPS, Q4 2024 earnings at $0.97 EPS and FY2028 earnings at $5.66 EPS.

CP has been the topic of a number of other reports. Stifel Nicolaus boosted their price objective on Canadian Pacific Kansas City from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut Canadian Pacific Kansas City from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $77.00 in a research note on Monday, November 27th. Citigroup upped their price target on Canadian Pacific Kansas City from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. TD Securities cut Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, StockNews.com upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.94.

Check Out Our Latest Analysis on CP

Canadian Pacific Kansas City Trading Up 3.3 %

Shares of Canadian Pacific Kansas City stock opened at $83.16 on Thursday. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $85.40. The stock’s 50-day simple moving average is $76.92 and its 200 day simple moving average is $76.46. The stock has a market capitalization of $77.52 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.56 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.61 and a current ratio of 0.70.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.1415 per share. This represents a $0.57 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, March 27th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is 17.83%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC grew its stake in Canadian Pacific Kansas City by 6.8% in the fourth quarter. Yousif Capital Management LLC now owns 16,699 shares of the transportation company’s stock worth $1,320,000 after purchasing an additional 1,065 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in Canadian Pacific Kansas City by 8.7% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 185,604 shares of the transportation company’s stock valued at $14,674,000 after acquiring an additional 14,835 shares during the period. GAMMA Investing LLC acquired a new position in Canadian Pacific Kansas City in the fourth quarter valued at approximately $88,000. Lorne Steinberg Wealth Management Inc. boosted its stake in Canadian Pacific Kansas City by 12.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 78,159 shares of the transportation company’s stock valued at $6,185,000 after acquiring an additional 8,575 shares during the period. Finally, Marks Group Wealth Management Inc boosted its stake in Canadian Pacific Kansas City by 5.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 72,197 shares of the transportation company’s stock valued at $5,708,000 after acquiring an additional 3,675 shares during the period. 67.93% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Company Profile

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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.

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Earnings History and Estimates for Canadian Pacific Kansas City (NYSE:CP)

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