Atb Cap Markets Analysts Boost Earnings Estimates for Canadian Pacific Kansas City Limited (NYSE:CP)

Posted by Defense World Staff on Jul 17th, 2023

Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) – Equities research analysts at Atb Cap Markets increased their Q2 2023 earnings per share estimates for shares of Canadian Pacific Kansas City in a research report issued to clients and investors on Wednesday, July 12th. Atb Cap Markets analyst C. Murray now forecasts that the transportation company will earn $0.65 per share for the quarter, up from their prior estimate of $0.63. The consensus estimate for Canadian Pacific Kansas City’s current full-year earnings is $2.98 per share. Atb Cap Markets also issued estimates for Canadian Pacific Kansas City’s FY2023 earnings at $2.99 EPS, Q2 2024 earnings at $0.89 EPS and FY2024 earnings at $3.74 EPS.

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

Several other brokerages also recently issued reports on CP. Stifel Nicolaus cut their target price on shares of Canadian Pacific Kansas City from $78.00 to $75.00 in a research note on Tuesday, April 18th. BMO Capital Markets assumed coverage on shares of Canadian Pacific Kansas City in a research report on Tuesday, April 18th. They set an “outperform” rating for the company. Credit Suisse Group raised their price objective on shares of Canadian Pacific Kansas City from $81.00 to $87.00 in a research report on Wednesday, July 5th. Barclays cut their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Finally, StockNews.com assumed coverage on shares of Canadian Pacific Kansas City in a research report on Thursday, May 18th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.86.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $80.58 on Monday. The stock has a market capitalization of $75.04 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.74 and a beta of 1.02. The business has a 50-day moving average of $79.30 and a 200-day moving average of $78.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.66 and a quick ratio of 0.56. Canadian Pacific Kansas City has a fifty-two week low of $65.17 and a fifty-two week high of $83.44.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC lifted its holdings in Canadian Pacific Kansas City by 6.3% in the second quarter. WCM Investment Management LLC now owns 31,281,327 shares of the transportation company’s stock valued at $2,526,593,000 after buying an additional 1,845,478 shares during the period. FIL Ltd raised its holdings in shares of Canadian Pacific Kansas City by 2.4% during the first quarter. FIL Ltd now owns 30,263,794 shares of the transportation company’s stock valued at $2,330,353,000 after purchasing an additional 698,587 shares during the period. Vanguard Group Inc. raised its holdings in shares of Canadian Pacific Kansas City by 2.4% during the first quarter. Vanguard Group Inc. now owns 30,249,662 shares of the transportation company’s stock valued at $2,496,807,000 after purchasing an additional 695,215 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Canadian Pacific Kansas City by 7.8% during the first quarter. Mackenzie Financial Corp now owns 15,258,466 shares of the transportation company’s stock valued at $1,174,866,000 after purchasing an additional 1,102,823 shares during the period. Finally, Norges Bank acquired a new position in shares of Canadian Pacific Kansas City during the fourth quarter valued at about $1,136,503,000. Institutional investors and hedge funds own 65.84% of the company’s stock.

Canadian Pacific Kansas City Cuts Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.70%. Canadian Pacific Kansas City’s dividend payout ratio is 18.87%.

Canadian Pacific Kansas City Company Profile

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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.