What is Raymond James’ Forecast for CP FY2024 Earnings?

Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) – Raymond James upped their FY2024 earnings per share estimates for shares of Canadian Pacific Kansas City in a research note issued to investors on Wednesday, October 16th. Raymond James analyst S. Hansen now expects that the transportation company will earn $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.

A number of other research analysts have also weighed in on the stock. Barclays raised their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Evercore ISI raised their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Citigroup initiated coverage on Canadian Pacific Kansas City in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target on the stock. Jefferies Financial Group reduced their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Susquehanna lifted their target price on shares of 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. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.90.

Canadian Pacific Kansas City Stock Down 1.4 %

Shares of NYSE CP opened at $80.08 on Monday. The firm has a market cap of $74.72 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The company’s 50-day simple moving average is $82.83 and its 200-day simple moving average is $81.63. 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.

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

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CP. GAMMA Investing LLC grew its holdings in shares of Canadian Pacific Kansas City by 12.1% during the 1st quarter. GAMMA Investing LLC now owns 1,229 shares of the transportation company’s stock worth $108,000 after purchasing an additional 133 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at about $392,000. Gulf International Bank UK Ltd increased its position in shares of Canadian Pacific Kansas City by 5.6% during the first quarter. Gulf International Bank UK Ltd now owns 9,232 shares of the transportation company’s stock valued at $814,000 after acquiring an additional 492 shares during the last quarter. &PARTNERS raised its stake in shares of Canadian Pacific Kansas City by 28.0% in the 1st quarter. &PARTNERS now owns 3,384 shares of the transportation company’s stock valued at $299,000 after acquiring an additional 740 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Canadian Pacific Kansas City in the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.69%. Canadian Pacific Kansas City’s dividend payout ratio is currently 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.