Canadian Pacific Kansas City (NYSE:CP) Issues Quarterly Earnings Results

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) announced its quarterly earnings results on Tuesday. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31, Briefing.com reports. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share.

Canadian Pacific Kansas City Trading Up 2.0 %

CP stock traded up $1.67 during midday trading on Wednesday, reaching $83.79. The stock had a trading volume of 3,422,420 shares, compared to its average volume of 2,168,569. The business has a fifty day simple moving average of $79.80 and a two-hundred day simple moving average of $82.73. 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 $78.18 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.32 and a beta of 0.96. Canadian Pacific Kansas City has a twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a $0.1373 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 0.66%. Canadian Pacific Kansas City’s payout ratio is 17.95%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CP. Evercore lowered their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective on the stock. Raymond James raised their price objective on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Barclays lowered their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Finally, Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average price target of $95.70.

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.