What is Raymond James’ Forecast for CP FY2024 Earnings?

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Research analysts at Raymond James boosted their FY2024 earnings estimates for Canadian Pacific Kansas City in a note issued to investors on Wednesday, October 16th. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings of $3.15 per share for the year, up from their prior estimate of $3.10. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.20 per share.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the business posted $0.62 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stifel Nicolaus reduced their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Sanford C. Bernstein dropped their price target on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Susquehanna raised their price objective on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Citigroup initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.90.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $78.77 on Monday. The company has a 50 day moving average price of $82.86 and a 200 day moving average price of $81.58. The firm has a market capitalization of $73.50 billion, a P/E ratio of 25.25, a PEG ratio of 2.21 and a beta of 0.96. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City has a 52 week low of $68.92 and a 52 week high of $91.58.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Canadian Pacific Kansas City by 1.7% in the first quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock worth $3,079,474,000 after buying an additional 588,701 shares in the last quarter. TD Asset Management Inc raised its holdings in Canadian Pacific Kansas City by 2.5% in the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock valued at $1,915,196,000 after acquiring an additional 532,303 shares during the last quarter. Bank of Montreal Can lifted its stake in Canadian Pacific Kansas City by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after purchasing an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Canadian Pacific Kansas City by 5.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after purchasing an additional 723,188 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Canadian Pacific Kansas City by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock valued at $909,721,000 after purchasing an additional 216,062 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders 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 annualized dividend and a dividend yield of 0.70%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

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.