Q2 2024 Earnings Forecast for Canadian Pacific Kansas City Limited (NYSE:CP) Issued By National Bank Financial

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Research analysts at National Bank Financial boosted their Q2 2024 earnings estimates for Canadian Pacific Kansas City in a research note issued to investors on Wednesday, June 26th. National Bank Financial analyst C. Doerksen now forecasts 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.

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

Other equities analysts have also issued reports about the stock. Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus lowered their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Barclays raised their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Raymond James raised their price target on shares of 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. Finally, Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.32.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $78.85 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $79.56 and its two-hundred day moving average price is $82.22. Canadian Pacific Kansas City has a 1 year low of $68.92 and a 1 year high of $91.58. The firm has a market capitalization of $73.56 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96.

Institutional Investors Weigh In On Canadian Pacific Kansas City

A number of institutional investors have recently added to or reduced their stakes in CP. Norges Bank acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth approximately $979,890,000. TD Asset Management Inc lifted its position in shares of Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock valued at $1,682,256,000 after acquiring an additional 6,835,271 shares during the period. Legal & General Group Plc acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter valued at $481,016,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Canadian Pacific Kansas City by 757.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,303,549 shares of the transportation company’s stock valued at $342,191,000 after acquiring an additional 3,801,910 shares during the period. Finally, Meritage Group LP acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth $207,850,000. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is 17.63%.

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.