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) – Investment analysts at National Bank Financial lowered their Q2 2024 earnings per share (EPS) estimates for shares of Canadian Pacific Kansas City in a research report issued to clients and investors on Wednesday, April 24th. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will post earnings per share of $0.69 for the quarter, down from their previous estimate of $0.75. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.16 per share. National Bank Financial also issued estimates for Canadian Pacific Kansas City’s FY2024 earnings at $3.13 EPS.

A number of other equities research analysts have also weighed in on the company. Evercore lowered their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. StockNews.com upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna Bancshares lowered Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Jefferies Financial Group initiated coverage on Canadian Pacific Kansas City in a research note on Monday, April 8th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Raymond James lifted their target price on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.42.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $78.43 on Monday. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The business has a 50 day moving average price of $86.82 and a two-hundred day moving average price of $80.00. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The firm has a market cap of $73.15 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 2.31 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its 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). The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. YCG LLC grew its holdings in shares of Canadian Pacific Kansas City by 32.5% during the fourth quarter. YCG LLC now owns 372,422 shares of the transportation company’s stock valued at $29,444,000 after buying an additional 91,276 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Canadian Pacific Kansas City by 15.3% during the fourth quarter. SG Americas Securities LLC now owns 96,211 shares of the transportation company’s stock valued at $7,606,000 after buying an additional 12,748 shares in the last quarter. Element Capital Management LLC purchased a new position in shares of Canadian Pacific Kansas City during the third quarter valued at $7,815,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Canadian Pacific Kansas City by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company’s stock valued at $24,525,000 after buying an additional 14,557 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Canadian Pacific Kansas City by 26.3% in the fourth quarter. Jennison Associates LLC now owns 57,878 shares of the transportation company’s stock valued at $4,577,000 after purchasing an additional 12,036 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.