Desjardins 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 Desjardins upped their Q2 2024 earnings per share estimates for shares of Canadian Pacific Kansas City in a research report issued to clients and investors on Wednesday, April 24th. Desjardins analyst B. Poirier now expects that the transportation company will post earnings of $0.69 per share for the quarter, up from their prior forecast of $0.67. 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 Q4 2024 earnings at $0.95 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.57%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion.

Other research analysts also recently issued research reports about the company. Barclays lifted their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Susquehanna Bancshares cut Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $87.00 in a research report on Monday, January 8th. Evercore ISI reduced 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 report on Thursday. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group began coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a “buy” rating and a $105.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $82.09 on Friday. Canadian Pacific Kansas City has a 1-year low of $68.92 and a 1-year high of $91.58. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $76.56 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 2.10 and a beta of 0.94. The stock’s fifty day simple moving average is $87.11 and its 200-day simple moving average is $79.74.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be paid a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.95%.

Hedge Funds Weigh In On Canadian Pacific Kansas City

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Canadian Pacific Kansas City by 12.1% during 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 in the last quarter. Valeo Financial Advisors LLC increased its holdings in Canadian Pacific Kansas City by 4.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,556 shares of the transportation company’s stock worth $265,000 after purchasing an additional 141 shares in the last quarter. Commerce Bank increased its holdings in Canadian Pacific Kansas City by 0.3% during the 4th 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 stake in shares of Canadian Pacific Kansas City by 1.5% during the 4th quarter. Accretive Wealth Partners LLC now owns 9,530 shares of the transportation company’s stock worth $753,000 after buying an additional 145 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Canadian Pacific Kansas City by 0.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 51,089 shares of the transportation company’s stock worth $3,802,000 after buying an additional 148 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

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.