Desjardins Has Bearish Forecast for CP FY2024 Earnings

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Investment analysts at Desjardins cut their FY2024 earnings per share estimates for shares of Canadian Pacific Kansas City in a report issued on Wednesday, October 23rd. Desjardins analyst B. Poirier now forecasts that the transportation company will post earnings of $3.07 per share for the year, down from their prior estimate of $3.17. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.20 per share. Desjardins also issued estimates for Canadian Pacific Kansas City’s FY2025 earnings at $3.61 EPS, FY2026 earnings at $4.26 EPS, FY2027 earnings at $4.94 EPS and FY2028 earnings at $5.58 EPS.

A number of other research firms also recently issued reports on CP. Jefferies Financial Group reduced their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price target for the company from $94.00 to $92.00 in a research report on Thursday. Citigroup lifted their price target on shares of Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday. Finally, Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Seven 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 presently has a consensus rating of “Moderate Buy” and an average target price of $95.09.

Canadian Pacific Kansas City Price Performance

CP stock opened at $77.11 on Monday. The firm has a 50 day moving average of $82.86 and a 200-day moving average of $81.30. Canadian Pacific Kansas City has a 12-month low of $69.07 and a 12-month high of $91.58. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42. The company has a market cap of $71.95 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm posted $0.69 EPS. Canadian Pacific Kansas City’s revenue for the quarter was up 6.3% compared to the same quarter last year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.73%. Canadian Pacific Kansas City’s payout ratio is 17.95%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CP. Delta Investment Management LLC grew its stake in shares of Canadian Pacific Kansas City by 3.2% during the 1st quarter. Delta Investment Management LLC now owns 4,117 shares of the transportation company’s stock valued at $363,000 after buying an additional 126 shares during the period. Grove Bank & Trust grew its stake in shares of Canadian Pacific Kansas City by 56.0% during the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after buying an additional 130 shares during the period. Tower View Wealth Management LLC grew its stake in shares of Canadian Pacific Kansas City by 0.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock valued at $4,410,000 after buying an additional 130 shares during the period. Bradley Foster & Sargent Inc. CT grew its stake in shares of Canadian Pacific Kansas City by 3.0% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock valued at $355,000 after buying an additional 131 shares during the period. Finally, Trust Co. of Vermont grew its stake in shares of Canadian Pacific Kansas City by 4.7% during the 3rd quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company’s stock valued at $260,000 after buying an additional 135 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.