Equities Analysts Issue Forecasts for Canadian Pacific Kansas City Limited's Q1 2024 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP - Equities researchers at Raymond James lowered their Q1 2024 EPS estimates for Canadian Pacific Kansas City in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $0.69 per share for the quarter, down from their prior estimate of $0.73. Raymond James has a "Outperform" rating and a $130.00 price objective on the stock. The consensus estimate for Canadian Pacific Kansas City's current full-year earnings is $3.21 per share. Raymond James also issued estimates for Canadian Pacific Kansas City's FY2024 earnings at $3.17 EPS.

A number of other research firms also recently commented on CP. Susquehanna dropped their price objective on Canadian Pacific Kansas City from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, March 28th. Barclays increased their price objective on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Bank of America increased their price objective on Canadian Pacific Kansas City from $87.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Scotiabank reiterated a "sector perform" rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Finally, Jefferies Financial Group initiated coverage on Canadian Pacific Kansas City in a report on Monday, April 8th. They set a "buy" rating and a $105.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $97.22.

Canadian Pacific Kansas City Stock Up 1.5 %

Shares of CP traded up $1.30 during trading hours on Tuesday, reaching $87.72. The company's stock had a trading volume of 3,195,213 shares, compared to its average volume of 2,054,491. The firm has a market cap of $81.81 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.17 and a beta of 0.94. Canadian Pacific Kansas City has a 1-year low of $68.92 and a 1-year high of $91.58. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $87.14 and a two-hundred day moving average of $79.61.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Tuesday, January 30th. The transportation company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.52% and a net margin of 31.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. YCG LLC lifted its position in Canadian Pacific Kansas City by 32.5% in the fourth quarter. YCG LLC now owns 372,422 shares of the transportation company's stock worth $29,444,000 after purchasing an additional 91,276 shares during the period. SG Americas Securities LLC increased its position in Canadian Pacific Kansas City by 15.3% in the fourth quarter. SG Americas Securities LLC now owns 96,211 shares of the transportation company's stock worth $7,606,000 after purchasing an additional 12,748 shares during the period. Element Capital Management LLC acquired a new stake in Canadian Pacific Kansas City in the third quarter worth about $7,815,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Canadian Pacific Kansas City by 5.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 308,459 shares of the transportation company's stock worth $24,525,000 after purchasing an additional 14,557 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter worth about $5,392,000. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be given a $0.1415 dividend. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. This represents a $0.57 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 17.83%.

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.