CP sets a new grain record

Article Excerpt

CANADIAN PACIFIC RAILWAY LTD. $358 remains your #1 Conservative stock for 2020. The company (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 135.6 million; Market cap: $48.5 billion; Price-to-sales ratio: 6.0; Dividend yield: 1.0%; TSINetwork Rating: Above Average; www.cpr.ca) shipped a record 8.41 million tonnes of Canadian grain and related products in the quarter ended June 30, 2020. That beat its previous record of 7.9 million tonnes in the fourth quarter of 2019. To help handle those rising volumes, CP is buying 5,900 new “hopper” railcars between 2019 and 2022 for shipping grain. Those cars carry up to 15% more than the older models. CP now has over 2,700 of those hopper cars in service. It is also investing in new facilities to speed up the loading and unloading of grain. CP Rail is our #1 Conservative Buy for 2020. 2020…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.