Good quarter for CP Rail

Article Excerpt

CANADIAN PACIFIC RAILWAY LTD. $57.42 (Toronto symbol CP; Shares outstanding: 168.5 million; Market cap: $9.7 billion; SI Rating: Average; Dividend yield: 1.7%) reports that its earnings per share jumped 87.5%, to $0.60 from $0.32, in the three months ended March 31, 2010. These figures exclude one-time items. The improving North American economy is increasing demand for CP’s rail services. The company has also cut its costs. That helped fuel the big rise in its earnings. CP’s revenue rose 5.2%, to $1.2 billion from $1.1 billion a year earlier. Revenue gains from fertilizer, automotive and consumer and industrial products offset declines in grain, coal and forest products. CP Rail is a buy. buy…

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