Desjardins Has Negative Estimate for CP FY2024 Earnings

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Research analysts at Desjardins dropped their FY2024 earnings estimates for shares of Canadian Pacific Kansas City in a research report issued on Wednesday, October 23rd. Desjardins analyst B. Poirier now anticipates that the transportation company will earn $3.07 per share for the year, down from their previous estimate of $3.17. 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 FY2025 earnings at $3.61 EPS, FY2026 earnings at $4.26 EPS, FY2027 earnings at $4.94 EPS and FY2028 earnings at $5.58 EPS.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.

Other analysts also recently issued research reports about the company. Citigroup lifted their target price on Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI upped their target price on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $94.00 to $92.00 in a research note on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Finally, Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $77.91 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. Canadian Pacific Kansas City has a 1-year low of $69.08 and a 1-year high of $91.58. The stock has a market capitalization of $72.69 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.21 and a beta of 0.96. The business’s fifty day moving average price is $82.83 and its 200-day moving average price is $81.24.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a yield of 0.72%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Canadian Pacific Kansas City by 42.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 80,748 shares of the transportation company’s stock worth $7,120,000 after acquiring an additional 24,063 shares during the last quarter. Chapin Davis Inc. purchased a new stake in Canadian Pacific Kansas City in the 1st quarter worth about $449,000. Allspring Global Investments Holdings LLC lifted its stake in Canadian Pacific Kansas City by 28.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 590,411 shares of the transportation company’s stock worth $52,057,000 after purchasing an additional 131,759 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its stake in Canadian Pacific Kansas City by 1.8% in the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 232,543 shares of the transportation company’s stock worth $20,556,000 after purchasing an additional 4,066 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Canadian Pacific Kansas City by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,229,212 shares of the transportation company’s stock valued at $196,672,000 after buying an additional 13,727 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.