Equities Analysts Offer Predictions for Canadian Pacific Kansas City Limited’s Q3 2023 Earnings (NYSE:CP)

Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) – Stock analysts at National Bank Financial reduced their Q3 2023 earnings per share estimates for shares of Canadian Pacific Kansas City in a research report issued on Tuesday, July 11th. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will earn $0.73 per share for the quarter, down from their prior estimate of $0.84. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $3.00 per share. National Bank Financial also issued estimates for Canadian Pacific Kansas City’s Q4 2023 earnings at $0.85 EPS and Q3 2024 earnings at $0.92 EPS.

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Canadian Pacific Kansas City (NYSE:CP – Get Free Report) (TSE:CP) last released its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.07). The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.78 billion. Canadian Pacific Kansas City had a net margin of 40.22% and a return on equity of 9.53%.

A number of other research firms have also commented on CP. BMO Capital Markets initiated coverage on shares of Canadian Pacific Kansas City in a research note on Tuesday, April 18th. They issued an “outperform” rating for the company. The Goldman Sachs Group began coverage on Canadian Pacific Kansas City in a research report on Tuesday, June 6th. They set a “buy” rating on the stock. Barclays lowered their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 12th. StockNews.com initiated coverage on shares of Canadian Pacific Kansas City in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Canadian Pacific Kansas City from $78.00 to $75.00 in a research report on Tuesday, April 18th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus price target of $90.86.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $80.43 on Thursday. Canadian Pacific Kansas City has a one year low of $65.17 and a one year high of $83.44. The company has a 50-day moving average of $79.31 and a two-hundred day moving average of $78.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.66 and a quick ratio of 0.56. The stock has a market cap of $74.90 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.48 and a beta of 1.02.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $1,136,503,000. Wellington Management Group LLP lifted its position in Canadian Pacific Kansas City by 1,151.2% during the 1st quarter. Wellington Management Group LLP now owns 7,157,741 shares of the transportation company’s stock worth $591,239,000 after acquiring an additional 6,585,655 shares during the last quarter. National Bank of Canada FI boosted its holdings in Canadian Pacific Kansas City by 303.5% during the fourth quarter. National Bank of Canada FI now owns 6,156,627 shares of the transportation company’s stock valued at $458,817,000 after acquiring an additional 4,630,693 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Canadian Pacific Kansas City by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,846,580 shares of the transportation company’s stock valued at $988,417,000 after purchasing an additional 3,443,066 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Canadian Pacific Kansas City by 1,054.8% in the fourth quarter. Barclays PLC now owns 2,226,180 shares of the transportation company’s stock worth $166,052,000 after purchasing an additional 2,033,408 shares during the period. Institutional investors own 65.84% of the company’s stock.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, June 29th. Canadian Pacific Kansas City’s payout ratio is 18.87%.

About Canadian Pacific Kansas City

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Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.

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