Research Analysts Offer Predictions for Canadian Pacific Kansas City Limited’s Q1 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Equities researchers at Raymond James lowered their Q1 2024 EPS estimates for Canadian Pacific Kansas City in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $0.69 per share for the quarter, down from their prior estimate of $0.73. Raymond James has a “Outperform” rating and a $130.00 price objective on the stock. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.21 per share. Raymond James also issued estimates for Canadian Pacific Kansas City’s FY2024 earnings at $3.17 EPS.

Other analysts have also issued reports about the stock. Barclays increased their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, April 10th. Susquehanna Bancshares lowered shares of Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. Jefferies Financial Group began coverage on shares of Canadian Pacific Kansas City in a research report on Monday, April 8th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Hold” and a consensus price target of $97.22.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $86.44 on Tuesday. The company has a 50 day simple moving average of $87.14 and a 200-day simple moving average of $79.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.46. The firm has a market capitalization of $80.62 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94. Canadian Pacific Kansas City has a 52-week low of $68.92 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Tuesday, January 30th. The transportation company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.71 billion. Canadian Pacific Kansas City had a net margin of 31.29% and a return on equity of 8.52%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC acquired a new position in Canadian Pacific Kansas City during the first quarter valued at approximately $208,000. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter worth $211,000. PFG Investments LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter worth $432,000. QV Investors Inc. grew its stake in shares of Canadian Pacific Kansas City by 1.1% in the first quarter. QV Investors Inc. now owns 243,609 shares of the transportation company’s stock worth $21,499,000 after acquiring an additional 2,569 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Canadian Pacific Kansas City by 5.3% in the first quarter. Raymond James & Associates now owns 767,465 shares of the transportation company’s stock worth $67,667,000 after acquiring an additional 38,575 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.83%.

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.