|Bid||68.59 x 900|
|Ask||69.38 x 1300|
|Day's Range||67.27 - 69.36|
|52 Week Range||65.03 - 84.22|
|Beta (5Y Monthly)||0.79|
|PE Ratio (TTM)||32.43|
|Forward Dividend & Yield||0.59 (0.84%)|
|Ex-Dividend Date||Sep 28, 2022|
|1y Target Est||N/A|
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Despite the hedge fund's support, the railroad company is overvalued and faces macroeconomic headwinds
The railroad industry is one of the major components of the transportation sector and is closely tied to the economy's growth. Railroad companies operate vast networks that transport agricultural products, packaged foods, commodities, electronics, and other goods to companies and consumers. Major companies in the industry include Norfolk Southern Corp. and CSX Corp. In mid-September, a potential rail strike threatened to disrupt the industry the U.S. economy, but the Biden administration secured a tentative deal with company and union leaders a day before the strike deadline on Friday, Sept. 16.
Ahead of a potential strike this week, analysts at Bank of America upgraded the three largest publicly-traded railroad operators as trends for the industry improve.