Raymond James Has Positive Outlook of CP FY2024 Earnings

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Analysts at Raymond James upped their FY2024 earnings estimates for shares of Canadian Pacific Kansas City in a research note issued on Wednesday, October 16th. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings of $3.15 per share for the year, up from their previous forecast of $3.10. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.20 per share.

CP has been the topic of several other research reports. Sanford C. Bernstein cut their price target 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. Stifel Nicolaus cut their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Barclays raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Susquehanna increased their price target on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average price target of $97.90.

Canadian Pacific Kansas City Trading Up 1.1 %

Shares of Canadian Pacific Kansas City stock opened at $79.64 on Monday. 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 firm’s 50 day simple moving average is $82.91 and its two-hundred day simple moving average is $81.52. Canadian Pacific Kansas City has a 12-month low of $68.92 and a 12-month high of $91.58. The firm has a market capitalization of $74.31 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year.

Institutional Trading of Canadian Pacific Kansas City

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Canadian Pacific Kansas City in the third quarter valued at about $111,380,000. Narwhal Capital Management grew its stake in shares of Canadian Pacific Kansas City by 29.6% in the third quarter. Narwhal Capital Management now owns 94,357 shares of the transportation company’s stock valued at $8,071,000 after buying an additional 21,537 shares in the last quarter. Pictet North America Advisors SA grew its stake in shares of Canadian Pacific Kansas City by 2.2% in the third quarter. Pictet North America Advisors SA now owns 313,041 shares of the transportation company’s stock valued at $26,867,000 after buying an additional 6,789 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in shares of Canadian Pacific Kansas City by 4.9% in the 3rd quarter. Waldron Private Wealth LLC now owns 10,926 shares of the transportation company’s stock valued at $935,000 after buying an additional 511 shares during the period. Finally, Signaturefd LLC lifted its stake in Canadian Pacific Kansas City by 6.0% during the 3rd quarter. Signaturefd LLC now owns 21,541 shares of the transportation company’s stock worth $1,843,000 after acquiring an additional 1,228 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $0.1373 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.69%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

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.