|Bid||367.00 x 0|
|Ask||369.00 x 0|
|Day's Range||359.42 - 369.00|
|52 Week Range||252.00 - 376.00|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||21.76|
|Earnings Date||Oct 21, 2020 - Oct 26, 2020|
|Forward Dividend & Yield||3.80 (1.03%)|
|Ex-Dividend Date||Sep 24, 2020|
|1y Target Est||312.95|
Canadian Pacific (CP) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
CALGARY, AB, July 30, 2020 /CNW/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) has released its first public statement on climate change. The statement acknowledges the effects of rising global temperatures and lays out CP's commitment to ongoing efforts to mitigate the impacts.
Given this past week's quarterly results from North America's railroad companies, it would be easy to presume the worst. Union Pacific (NYSE: UNP) reported a 24% decline in freight revenue. Canadian Pacific Railway (NYSE: CP) seemed to fare slightly better, topping earnings estimates of 3.77 Canadian dollars per share for its second quarter.
Big Blue’s new direction and new management get one brokerage firm’s vote. Also, Wall Street views on Brightcove, Jazz Pharmaceuticals, Meta Financial Group, and Canadian Pacific.
The gap between this year's U.S. intermodal volumes and last year's on a weekly basis is narrowing, with last week's volumes only 1.7% lower than the same period in 2019.U.S. intermodal units for the week ending July 18 totaled 266,912 containers and trailers, which is 1.7% lower than the same period a year ago, according to the Association of American Railroads.U.S. carloads are also narrowing their gap, although there is still a double-digit percentage difference between this year and last year. U.S. weekly carloads totaled 214,685 carloads, a 15.7% decline compared with the same period last year.Combined carload and intermodal traffic for U.S.-originated loads totaled 481,597 carloads and intermodal, which is an 8.5% drop compared with the same weekly period in 2019.Meanwhile, year-to-date U.S. volumes total 13.07 million carloads and intermodal units, 12.8% lower than a year ago.U.S carloads (blue: RTOTC.USA), intermodal trailers (orange: RTOIT.CLASSI) and containers (green: RTOIC.CLASSI) over the past year. The data comes from the Association of American Railroads. (SONAR)Intermodal: the Comeback Kid?The 1.7% difference between weekly U.S. intermodal volumes this year and last year – North American intermodal units are down 1.8% on a weekly basis – comes as the Class I railroads are reporting that both domestic and intermodal volumes have been increasing steadily since their pandemic-induced lows in April.Vessel operators that had previously canceled sailings in the third quarter have since reinstated some of those sailings, resulting in increased activity for the railroads' international intermodal segments, companies said during their second-quarter earnings results this week and last week. Meanwhile, e-commerce has helped to boost domestic intermodal volumes, the railroads said.This SONAR chart graphs U.S. Customs data to show maritime import shipments by port over the last three months. The chart tracks shipments to a port using a seven-day average. Blue (ICSTM.LAX) represents the Port of Los Angeles, while green (ICSTM.LGB) indicates the Port of Long Beach and purple (ICSTM.NYC) represents the Port of New York/New Jersey. Orange (ICSTM.SAV) indicates the Port of Savannah and yellow (ICSTM.HOU) represents the Port of Houston. (SONAR)"In April and May, they were obviously tough months for us both for domestic and international [intermodal], but we started to see volumes rebound nicely in June, especially on the domestic side as the economy began to reopen and we saw inventories being replenished [for] some of the retailers," said Mark Wallace, executive vice president for sales and marketing at CSX Corporation (NASDAQ: CSX). "We also saw strong volume surges for our e-commerce business as individuals stayed home but shopped online...We think that strength will continue and we're encouraged" by the reversal of the blanked sailings, Wallace said during CSX's second-quarter earnings call on Thursday, July 23.At Canadian Pacific Railway Limited (NYSE: CP), CP Chief Marketing Officer John Brooks said, "There's a lot of uncertainty in this [intermodal] space [with consumers and the pandemic outcome]...But I think our forecast right now is we continue to see, I would say a little bit of a surge here continue in the third quarter and then maybe a little bit of normalization as you move back into the fourth quarter. But that's going to all be dependent on what we see happen with this pandemic."But even if the coronavirus pandemic lingers for several months, e-commerce and the do-it-yourself movement are two factors that could help support intermodal volumes in the back half of the year."We are very bullish on the strength of the consumer in North America, even more so on the consumer living in the U.S. in a big city, because we have a three-coast network and we can access some of the highly populated areas," said Canadian National Railway Company (NYSE: CNI) CEO JJ Ruest during his company's second-quarter earnings call. "And the consumer disposable income is really key to CN's future. And the product that's most-suited to exploit the consumer spending and disposable income is intermodal. And the business coming by the port is definitely one of our mid- to long-term strategies to increase our business in that space."Click here for more FreightWaves articles by Joanna Marsh.Related articles:CSX views 2H with guarded optimismCN eyes intermodal opportunities to boost 2H 2020Canadian Pacific says mid-50s operating ratio within reachKansas City Southern seeks to maintain PSR-related cost cutsSee more from Benzinga * Hapag-Lloyd Promising Cargo Loaded As Booked * Report: Wide Use Of Self-Driving Vehicles 'At Least' A Decade Away * Drilling Deep: Fighting Nuclear Verdicts By Preparing For Them Now(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Low freight revenues due to COVID-19 hurt Canadian Pacific's (CP) second-quarter 2020 results. Low costs however, provide are a positive.
Canadian Pacific Railway Ltd's (NYSE: CP) second-quarter net profit slipped 12% amid a 9% decrease in revenue.Net income totaled C$635 million (US$473 million), or C$4.66 in diluted earnings per share, in the second quarter of 2020, compared with C$724 million, or C$5.17 in diluted earnings per share, in the second quarter of 2019."The CP family of railroaders has achieved these results during some of the most challenging conditions the world has experienced in recent memory," said CP President and CEO Keith Creel. "Our second-quarter results showcase the resiliency of our people and of the precision scheduled railroading (PSR) operating model. The COVID-19 pandemic has created immense challenges, but CP has risen to the occasion, adapted and responded to the benefit of our customers, communities and shareholders. The pride I feel each day coming to work with this team has never been stronger."As with its Class I counterparts, the coronavirus pandemic caused lower rail volumes and a drop in revenue compared to a year ago. Second-quarter revenue was nearly C$1.8 billion, compared with nearly C$2 billion for the same period in 2019.But costs were also lower, with second-quarter operating expenses totaling C$1 billion versus C$1.16 billion in the second quarter of 2019. Among the cuts in operating costs was a 44% decline in fuel expenses to C$131 million.(Canadian Pacific)Meanwhile, the railroad's operating ratio was 57% in the second quarter, compared with 58.4% a year ago. Operating ratio, which is a company's expenses as a percentage of its revenue, is a financial metric that some investors use to gauge the financial health of a company. A lower operating ratio can imply improved financial performance."While economic uncertainty remains, we're controlling what we can control – our costs," Creel saidl. "Our strong bulk franchise, which included record movements for Canadian grain and potash in the first half of the year, helped to offset some of the declines we experienced in other lines of business."Creel continued, "Given our strong cost control measures, industry-leading execution of the PSR model, and improved clarity on the volume environment, we now expect positive adjusted diluted EPS [earnings per share] growth for the year."Terminal dwell and train speed were relatively flat in the second quarter. Train speed was 22.4 miles per hour, same as a year ago, while terminal dwell, which is the amount of time a train is at a terminal, ticked up to 6.5 hours compared with 6.4 hours a year ago.But trains were heavier and longer in the second quarter compared to a year ago. Average train length grew 8% to 8,089 feet, while average train weight for non-local traffic rose 7% to 9,984 tons.(Canadian Pacific)Click here for more FreightWaves articles by Joanna Marsh.Related articles:Canadian Pacific finalizes US portion of Atlantic Canada short lineCanadian Class I railroads boast record grain volumes for JuneCanadian Pacific puts faith in PSR and employeesSee more from Benzinga * Innovative Fleets Taking Advantage Of Open-Platform Technology * LATAM Lands Brazil's Last COVID-19 Emergency Air Bridge Flight * FreightWaves 3PL Summit: Software, Personal Relationships Drive Carrier Compliance And Safety(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Canadian Pacific (CP) delivered earnings and revenue surprises of 6.91% and -0.55%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Canadian Pacific were up 1% at C$368 in morning trading. The company's operating ratio, a measure of operating expenses as a percentage of revenue and a key metric for Wall Street, fell to 57% from 58.4% a year earlier, as fuel expenses plunged 44%. A lower operating ratio signals improved profitability.
Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced second-quarter results, including revenues of $1.79 billion, diluted earnings per share ("EPS") of $4.66, adjusted diluted EPS of $4.07 and an operating ratio of 57.0 percent.
The U.S.-listed shares of Canadian Pacific Railway Ltd. rose 0.4% in afternoon trading Tuesday, after the rail road operator said it was raising its quarterly dividend by 14.5%, to 95 Canadian cents a share from 83 cents. The new dividend is payable on Oct. 26 to shareholders of record on Sept. 25. The current dividend on the U.S.-listed shares is 58.75 cents a share. At current stock prices, that implies a dividend yield of 0.86%, compared with the implied yield for the S&P 500 of 1.75%. The stock has gained 7.4% year to date, while the S&P 500 has edged up 1.4%.
CALGARY, AB, July 21, 2020 /CNW/ - The Board of Directors of Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today declared a quarterly dividend of $0.95 per share on the outstanding Common Shares, an increase of approximately 15 percent to the previous dividend of $0.
Canadian Pacific (CP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Canadian Pacific (CP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Canadian Pacific's (CP) second-quarter 2020 performance is likely to have benefited from impressive freight revenues and record Canadian grain movement.
The Zacks Analyst Blog Highlights: Marten Transport, Canadian National Railway, TFI International, Canadian Pacific Railway and Werner Enterprises
Canadian Pacific (CP) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
In this article we are going to estimate the intrinsic value of Canadian Pacific Railway Limited (TSE:CP) by...
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The Canadian railways again achieved record grain hauls in June.CN (NYSE: CNI) said Tuesday it hauled 2.7 million metric tonnes (MMT) of Canadian grain in June, the fourth consecutive month that CN hit a monthly record.CN also achieved a second-quarter record for grain moved, at 8.15 MMT. For the first six months of this year, the railway has moved 15 MMT.Year-to-date grain volumes since the start of the 2019-2020 harvest year on Aug. 1, 2019, total 26.9 MMT, compared with 26.5 MMT year-to-date for the same period in 2018-2019. Of that year-to-date total for 2019-2020, 1 MMT was shipped via container as an intermodal shipment."From Canadian farmers to port terminals, these achievements are a testament to the strength of our supply chain and its ability to meet the continued strong global demand for grain," said James Cairns, CN's senior vice president of the rail centric supply chain. "Strong demand for grain through the second quarter, coupled with strong execution by CN's dedicated team of railroaders, allowed us to achieve our record quarterly results and for the first half of 2020. Those results come after challenges earlier in the crop year." Meanwhile, competitor Canadian Pacific (NYSE: CP) also said it experienced its "best-ever quarter" and June for hauling Canadian grain. CP moved 2.76 MMT of Canadian grain and grain products in June and 8.41 MMT for the second quarter. The railway also said its year-to-date crop volumes are 8.8% ahead of last year's pace."The collaborative relationships CP has built with its customers, combined with responsive rail service, have contributed to another quarter of record-breaking grain movements," said Joan Hardy, CP's vice president of sales and marketing for grain and fertilizers. Both railways attribute the record volumes to investments they've made to their networks in recent years. CP attributed the record volumes in part to its nearly 2,700 new high-capacity hopper cars, which can carry 15% more volume and 10% more weight compared with older cars, and to its 8,500-foot high-efficiency product train model, which can haul 40% more grain than the 7,000-foot model.According to the Association of American Railroads, year-to-date Canadian carloads of grain totaled 219,052 for the week ending June 27, a 3.6% drop compared with the same period in 2019. Protesters blocking the western rail network in February in support of a First Nations' group's objections over the location of a proposed gas pipeline might have affected year-to-date grain volumes.Canadian grain carloads over the past year. (SONAR: RTOGR.CAN)CN will report its second-quarter financial results on July 21, and CP will report its second-quarter results on July 22.Click here for more FreightWaves articles by Joanna Marsh.Related articles:Canadian railroads shatter previous May grain recordsCompeting countries, strong dollar influence US grain exportsCommentary: Steel rivers of grain continue to flowSee more from Benzinga * Merrill Lynch Boosts Knight Swift, J.B. Hunt And ArcBest * Amazon To Power Cargo Jets With Sustainable Fuel * Commentary: Do Environmental Regulations Really Push Markets?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The two records are the latest in a standout crop year of linking Canadian producers to worldwide markets. "The collaborative relationships CP has built with its customers, combined with responsive rail service, have contributed to another quarter of record-breaking grain movements," said Joan Hardy , CP's Vice-President Sales and Marketing Grain and Fertilizers. In 2020's second quarter, CP moved 8.41 million metric tonnes (MMT) of Canadian grain and grain products.
Low air travel demand due to the COVID-19 pandemic dents Ryanair's (RYAAY) June Traffic. However, its July projection to carry more than 4.5 million passengers is a tailwind.