Canadian Pacific Railway Limited (CP - Free Report) achieved its best-ever third quarter record by moving 7.7 million metric tonnes (MMT) of Canadian grain and grain products. With this, the company broke its third-quarter 2014 third record of moving 7 MMT of Canadian grains. The record grain movement in the third quarter is expected to have bolstered the top line.
Canadian Pacific also set a new September record by shipping 2.8 MMT of Canadian grain and grain products. With this, the company has broken its 2017 September record by more than 8.4%.
Canadian Pacific has been able to achieve its record gain movement by adding 3,200 new high-capacity hopper cars in its fleet. The new hopper cars can carry 15% more volume and 10% more weight compared with the older cars. An 8,500-feet High Efficiency Product (HEP) train can carry in excess of 40% more grain than the 7,000-feet train model when combined with the additional capacity of the new hopper cars.
Notably, customers are actively investing in their elevator networks to accommodate 8,500-foot HEP trains. By the end of 2020, it is expected that more than 30% of the unit train loaders will be HEP qualified. This will boost capacity and efficiency in the grain supply chain for Canadian Pacific customers and shareholders.
Zacks Rank & Key Picks
Canadian Pacific currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , J.B. Hunt Transport Services, Inc. (JBHT - Free Report) and Werner Enterprises (WERN - Free Report) . Knight-Swift and J.B. Hunt carry a Zacks Rank #2 (Buy), while Werner sports a Zacks #1 (Strong Buy) Rank. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, J.B. Hunt and Werner is pegged at 15%, 15% and 8.5%, respectively.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Canadian Pacific Railway Limited (CP - Free Report) achieved its best-ever third quarter record by moving 7.7 million metric tonnes (MMT) of Canadian grain and grain products. With this, the company broke its third-quarter 2014 third record of moving 7 MMT of Canadian grains. The record grain movement in the third quarter is expected to have bolstered the top line.
Canadian Pacific also set a new September record by shipping 2.8 MMT of Canadian grain and grain products. With this, the company has broken its 2017 September record by more than 8.4%.
Canadian Pacific has been able to achieve its record gain movement by adding 3,200 new high-capacity hopper cars in its fleet. The new hopper cars can carry 15% more volume and 10% more weight compared with the older cars. An 8,500-feet High Efficiency Product (HEP) train can carry in excess of 40% more grain than the 7,000-feet train model when combined with the additional capacity of the new hopper cars.
Notably, customers are actively investing in their elevator networks to accommodate 8,500-foot HEP trains. By the end of 2020, it is expected that more than 30% of the unit train loaders will be HEP qualified. This will boost capacity and efficiency in the grain supply chain for Canadian Pacific customers and shareholders.
Zacks Rank & Key Picks
Canadian Pacific currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , J.B. Hunt Transport Services, Inc. (JBHT - Free Report) and Werner Enterprises (WERN - Free Report) . Knight-Swift and J.B. Hunt carry a Zacks Rank #2 (Buy), while Werner sports a Zacks #1 (Strong Buy) Rank. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, J.B. Hunt and Werner is pegged at 15%, 15% and 8.5%, respectively.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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