|Bid||309.37 x 0|
|Ask||309.31 x 0|
|Day's Range||307.98 - 314.58|
|52 Week Range||228.35 - 318.75|
|Beta (3Y Monthly)||1.37|
|PE Ratio (TTM)||21.60|
|Earnings Date||Jul 16, 2019|
|Forward Dividend & Yield||3.32 (1.06%)|
|1y Target Est||312.95|
Canadian Pacific Railway (CP) reported a year-over-year improvement in its overall rail traffic in Week 24, which ended on June 15. The company hauled 54,099 railcars, containers, and trailers in Week 24.
The downtrend in the US rail traffic volume continued for the 21st consecutive week. On June 19, the Association of American Railroads reported that US companies' air traffic fell 5.4% in Week 24.
(Bloomberg) -- In a global financial environment dominated by negative interest rates and central banks signaling even more accommodative policies, the U.S. money-market industry is thriving.Normally seen as a place to park cash during times of uncertainty, taxable funds have seen roughly $136 billion of inflows this year even with U.S. equity markets surging and bonds posting positive returns, Investment Company Institute data show. Overall assets have swelled to more than $3 trillion, the highest level since the financial crisis.Demand is being aided in part by attractive U.S. short-term yields relative to bank deposits -- helped by three years of Federal Reserve interest-rate hikes, an inverted yield curve and volatility in financial markets. Total assets in government money funds are at a record high and investments in prime funds are the most since September 2016, before industry reforms went into effect.While the specter of Fed rate cuts is not perceived as an imminent threat, it will be a topic among attendees at the Crane’s Money Fund Symposium in Boston beginning Monday. Other issues likely to come up include the drop in yields and narrowing spread between government and prime money-market funds, as well as the post-reform growth of the market for repurchase agreements and popularity of sponsored repo.“Money fund yields are still above 2 percent, whether it’s government or prime,” said Pia McCusker, the Boston-based global head of cash management at State Street Global Advisors Trust Co. “That’s still attractive to investors today. If people are looking for a safe haven, cash is still a great place.”The yield on two-year Treasuries have dropped almost 74 basis points to 1.75% this year.The FedNow that the Fed has scrapped the use of “patient” when describing its approach to monetary policy changes, derivatives markets are pricing in more than 25 basis points of easing at the next Federal Open Market Committee meeting in July. Yet fund managers are nonplussed given that money rates are still more attractive than bank deposits. Historically, money funds tend to see outflows one to two years after the Fed cut rates, according to Alex Roever, head of U.S. rates strategy at JPMorgan Chase & Co.After a series of risk-off events in 2007-2008 that pushed investors into money funds, the Fed cut interest rates to zero, which crushed money-market yields and investors pulled cash in search of higher-yielding assets. “It wasn’t the fact that they had to cut rates,” Roever said. “It’s that the overall level of rates got so low in that scenario.”Another issue that could arise is whether the Fed decides to introduce a tool to keep money-market rates under more control. Rates for repurchase agreements -- a key component of short-term funding markets -- have recently shown a tendency to spike around month-end, which has helped to pull the fed funds rate higher. Fed Chairman Jerome Powell said at his post-meeting press conference last month that the central bank will look at the idea of a so-called standing repo facility at a future meeting.Lower YieldsEven as money funds remain attractive investment vehicles, the drop in yields will be a topic of discussion. After peaking at around 30 to 35 basis points in December, the spread between prime funds -- which invest primarily in commercial paper, certificates or deposits and time deposits -- and government funds has collapsed to around 20 basis points, according to State Street’s McCusker.Part of that is related to commercial paper issuance and where financial institutions are choosing to issue. So far this year, there has been an average 21 issues of AA rated CP longer than 81 days on a typical day, Fed data show. That is down from an average of 28 issues during the same period in 2018. This dearth of supply “bleeds through to Libor settings being lower and overall yield being lower on prime funds,” Roever said.Repo GrowthGiven the growth in government money fund assets after the 2016 reforms were enacted, the repo market has expanded to keep up with the increased demand. Dealer repo with money-market funds has risen to $1.2 trillion as of the end of May, Office of Financial Research data show. That’s because of the growth in sponsored repo, which are transactions where dealers sponsor non-dealer counterparties onto Fixed Income Clearing Corporation’s (FICC) cleared repo platform. Last month, money fund cash invested in cleared repo jumped to a record $154 billion, according to OFR, up from about $5 billion in June 2017 when funds first started participating.Barclays Plc strategist Joseph Abate expects sponsored repo volumes to grow, though “it’s difficult to project how popular the program will become,” he wrote in a note published June 19. “How much single counterparty exposure to the FICC does a money fund wish to have? 25%, 50%, or more?”(Adds 2-year bond yield in sixth graf. An earlier version of this story was corrected due to a mislabeling in the chart legend.)To contact the reporter on this story: Alexandra Harris in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Benjamin Purvis at email@example.com, Dave Liedtka, Mark TannenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CALGARY , June 19, 2019 /PRNewswire/ - Canadian Pacific (TSX: CP) (NYSE: CP) is proud to announce the company was named Best Logistics Service Provider – Rail at the Asian Freight Logistics and Supply ...
US railroad companies' traffic volume fell for the 20th consecutive week in Week 23, which ended on June 8. Norfolk Southern (NSC) saw the biggest drop of 9.7%. Will US railroad companies' traffic volume continue to fall?
Is Canadian Pacific Railway Limited (NYSE:CP) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise […]
Canadian Pacific Railway Ltd NYSE:CPView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for CP with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CP. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold CP had net inflows of $715 million over the last one-month. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Industrialsis falling. The rate of decline is very significant relative to the trend shown over the past year, and is accelerating. The rate of contraction may ease in the coming months, however. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. CP credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
Downtrend in US Rail Traffic Persisted for 19th Consecutive Week(Continued from Prior Part)Canadian Pacific Railway Canadian Pacific Railway (CP) recorded a strong YoY (year-over-year) improvement in its overall rail traffic in Week 22, which ended
Downtrend in US Rail Traffic Persisted for 19th Consecutive WeekUS rail traffic fellOverall, US railroad companies’ traffic fell for the 19th consecutive week in Week 22, which ended on June 1. On June 5, the Association of American Railroads
VANCOUVER, June 6, 2019 /PRNewswire/ - Canadian Pacific (CP) (CP) is using its strategic land holdings to support sustainable, profitable growth and alleviate capacity and congestion issues for automakers shipping to and from Vancouver with the opening of its new Vancouver Automotive Compound (VAC). The VAC is in a prime location to handle vehicles made in North America for distribution in British Columbia, northern Washington State and parts of Alberta, as well as vehicles imported through the Port of Vancouver.
Canadian Pacific (NYSE: CP) moved record amounts of grain and grain products in May out of the port of Vancouver. The railway moved 15 million metric tonnes of grain for export through Vancouver in May, breaking the record set in May 2017 by 5 percent, the company said on June 4. Since the start of the 2018-2019 crop year, CP has moved 22.5 million metric tonnes of Canadian grain and grain products.
CALGARY , June 4, 2019 /CNW/ - On the strength of its operating model and the power of its 13,000-strong CP family, Canadian Pacific (CP) (CP) continues to set records for the movement of Canadian grain. As of the end of May 2019 , CP has moved 22.5 million metric tonnes (MMT) of Canadian grain and grain products since the start of the 2018-2019 crop year. "Since August of last year, we have moved approximately 500,000 metric tonnes more grain than ever before, bettering our record at this time back in the 2015-2016 crop year," said CP Vice-President Sales and Marketing, Grain and Fertilizers, Joan Hardy .
CALGARY , June 3, 2019 /CNW/ - The Homes for Heroes Foundation (the Foundation) and Canadian Pacific (CP) are proud to announce the third annual Spin for a Veteran event held this past weekend beat expectations and raised more than $505,000 , which will go towards building homes for homeless veterans. To date, this event has raised approximately $800,000 to support homeless veterans reintegrating into civilian life. Held on Canadian Armed Forces Day, CP's Spin for a Veteran had 18 teams of CP employees, local companies and emergency services riding for 24 hours in a spin competition to see who could ride the farthest.
US Rail Traffic Downtrend Persisted for the 18th Straight Week(Continued from Prior Part)CP’s rail trafficCanadian Pacific Railway (CP) was the only Class I railroad company that recorded a YoY (year-over-year) improvement in its overall rail
CALGARY, May 31, 2019 /PRNewswire/ - Canadian Pacific Railway Limited (CP) (CP) and Yang Ming Marine Transport Corporation (Yang Ming) today announced a three-year agreement to safely and efficiently connect Yang Ming customers with North America, via the Port of Vancouver. "On behalf of the 13,000-strong CP family, I would like to offer a warm welcome to Yang Ming," said CP President and CEO Keith Creel. "We are proud to be selected as Yang Ming's Canadian rail carrier, and we look forward to a long and successful relationship.