Canadian Pacific Kansas City (NYSE:CP) Issues Quarterly Earnings Results

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) issued its quarterly earnings results on Wednesday. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01), reports. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.57%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $82.09 on Friday. Canadian Pacific Kansas City has a one year low of $68.92 and a one year high of $91.58. The company’s 50-day moving average is $87.11 and its 200 day moving average is $79.74. The company has a market capitalization of $76.56 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given a dividend of $0.141 per share. This represents a $0.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.95%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CP. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday. TD Securities cut shares of Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America dropped their target price on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna Bancshares lowered shares of Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Finally, Barclays increased their target price on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.42.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Canadian Pacific Kansas City by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 34,337,847 shares of the transportation company’s stock worth $2,714,750,000 after purchasing an additional 585,049 shares during the period. FMR LLC lifted its stake in shares of Canadian Pacific Kansas City by 1.8% in the 3rd quarter. FMR LLC now owns 31,001,865 shares of the transportation company’s stock worth $2,304,549,000 after purchasing an additional 553,163 shares during the period. TD Asset Management Inc lifted its stake in shares of Canadian Pacific Kansas City by 47.7% in the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after purchasing an additional 6,835,271 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Canadian Pacific Kansas City by 5.9% in the 4th quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock worth $1,122,370,000 after purchasing an additional 787,608 shares during the period. Finally, Veritas Asset Management LLP lifted its stake in shares of Canadian Pacific Kansas City by 1.8% in the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after purchasing an additional 243,210 shares during the period. Institutional investors own 72.20% of the company’s stock.

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.