National Bank Financial Comments on Canadian Pacific Kansas City Limited’s Q2 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Stock analysts at National Bank Financial raised their Q2 2024 earnings per share (EPS) estimates for Canadian Pacific Kansas City in a research note issued on Wednesday, June 26th. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will earn $0.73 per share for the quarter, up from their previous forecast of $0.69. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.14 per share. National Bank Financial also issued estimates for Canadian Pacific Kansas City’s Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $3.19 EPS and FY2025 earnings at $3.77 EPS.

Several other brokerages have also issued reports on CP. Jefferies Financial Group started coverage on shares of Canadian Pacific Kansas City in a report on Monday, April 8th. They set a “buy” rating and a $105.00 price objective on the stock. Stifel Nicolaus cut their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, April 25th. Wells Fargo & Company began coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 target price on the stock. Finally, Susquehanna reissued a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 25th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $96.32.

Canadian Pacific Kansas City Trading Down 1.6 %

NYSE CP opened at $77.50 on Monday. The company’s 50-day simple moving average is $79.74 and its two-hundred day simple moving average is $82.21. Canadian Pacific Kansas City has a one year low of $68.92 and a one year high of $91.58. The company has a market capitalization of $72.30 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion.

Institutional Trading of Canadian Pacific Kansas City

A number of hedge funds have recently modified their holdings of the stock. Delta Investment Management LLC increased its holdings in Canadian Pacific Kansas City by 3.2% in the first 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 in the last quarter. GAMMA Investing LLC raised its holdings in Canadian Pacific Kansas City by 12.1% in the 1st quarter. GAMMA Investing LLC now owns 1,229 shares of the transportation company’s stock worth $108,000 after purchasing an additional 133 shares during the period. Commerce Bank boosted its position in Canadian Pacific Kansas City by 0.3% during the fourth quarter. Commerce Bank now owns 55,566 shares of the transportation company’s stock worth $4,393,000 after purchasing an additional 144 shares in the last quarter. Accretive Wealth Partners LLC boosted its position in Canadian Pacific Kansas City by 1.5% during the fourth quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock worth $753,000 after purchasing an additional 145 shares in the last quarter. Finally, PDS Planning Inc increased its position in shares of Canadian Pacific Kansas City by 4.3% in the first quarter. PDS Planning Inc now owns 3,946 shares of the transportation company’s stock valued at $348,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors 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 dividend on an annualized basis and a yield of 0.73%. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.63%.

Canadian Pacific Kansas City Company Profile

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.