Topic: How To Invest

The Successful Investor Hotline – Friday, April 24, 2020

Article Excerpt

CANADIAN PACIFIC RAILWAY LTD., $323.20, Toronto symbol CP, is still our #1 Conservative Buy for 2020. Through their shares, investors tap a company shipping freight over its 22,000-kilometre rail network between Montreal and Vancouver. It also links to hubs in the U.S. Midwest and Northeast. CP reported much stronger-than-expected quarterly results this week. However, it also warned that the COVID-19 outbreak will slow its growth for the rest of the year. In the quarter ended March 31, 2020, overall revenue gained 15.6%, to a record $2.04 billion from $1.77 billion a year earlier. That beat the consensus forecast of $1.96 billion. The higher revenue was mainly due to rising shipments of grain, fertilizers, crude oil, metals and automotive products. CP’s earnings in the quarter soared 54.8%, to $607 million from $392 million a year earlier. Due to fewer shares outstanding, per-share earnings rose at a faster rate of 58.4%, to $4.42 from $2.79. Those figures leave out unusual items, including a tax adjustment and a..

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