CP Rail nears its high

Article Excerpt

CANADIAN PACIFIC RAILWAY $222.90 (Toronto symbol CP; shares o/s: 147.7 million; Market cap: $32.7 billion; TSINetwork Rating: Above Average; Dividend yield: 1.0%; www. cpr.ca) ships freight over a 22,000-kilometre rail network between Montreal and Vancouver, with links to hubs in the U.S. CP continues to move up steadily toward its all-time high of just over $242 per share. That was reached in early 2015. In the quarter ended September 30, 2017, revenue rose 2.6%, to $1.60 billion from $1.55 billion a year earlier. Higher revenue from shipping oil, metals, minerals and potash helped offset declines in fertilizers (other than potash), grain, wood and automotive equipment. Earnings in the quarter rose 4.2%, to $422 million from $405 million. Due to fewer shares outstanding, per-share earnings gained 6.2%, to $2.90 from $2.73. CP Rail is a buy. buy…