National Bank Financial Predicts CP FY2024 Earnings

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Equities research analysts at National Bank Financial dropped their FY2024 earnings estimates for Canadian Pacific Kansas City in a report issued on Wednesday, October 23rd. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will post earnings of $3.07 per share for the year, down from their previous estimate of $3.17. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.20 per share. National Bank Financial also issued estimates for Canadian Pacific Kansas City’s FY2025 earnings at $3.72 EPS.

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

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Sanford C. Bernstein lowered their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Stephens decreased their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their target price for the company from $94.00 to $92.00 in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.15.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $77.91 on Monday. The business’s fifty day moving average is $82.83 and its 200 day moving average is $81.24. Canadian Pacific Kansas City has a 12-month low of $69.08 and a 12-month high of $91.58. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $72.69 billion, a P/E ratio of 24.97, a P/E/G ratio of 2.21 and a beta of 0.96.

Institutional Trading of Canadian Pacific Kansas City

Several hedge funds have recently added to or reduced their stakes in CP. Choate Investment Advisors increased its stake in shares of Canadian Pacific Kansas City by 24.2% during the 1st quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock worth $6,349,000 after purchasing an additional 14,037 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in Canadian Pacific Kansas City during the second quarter valued at $11,810,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Canadian Pacific Kansas City by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,229,212 shares of the transportation company’s stock worth $196,672,000 after buying an additional 13,727 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Canadian Pacific Kansas City by 53.0% in the first quarter. Maryland State Retirement & Pension System now owns 49,072 shares of the transportation company’s stock worth $4,100,000 after buying an additional 16,995 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Canadian Pacific Kansas City by 272.0% in the first quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock valued at $4,874,000 after buying an additional 40,380 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s payout ratio is presently 17.95%.

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.