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Canadian Pacific (CP) Sets Record For November Grain Movement
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Canadian Pacific Railway Limited (CP - Free Report) achieved another monthly record in November and second-best-ever month for shipping by moving 2.96 million metric tonnes (MMT) of Canadian grain and grain products. With this, the company exceeded its November 2019 record by 8%.
In 2020-2021 crop year, Canadian Pacific shipped 11.13 MMT of grains exceeding the amount shipped during the same time period in the 2019-2020 crop year by 15 percent.
In line with the objective of investing in its grain fleet, Canadian Pacific added more than 3,700 new hopper cars to its fleet via purchase or lease. The new high-efficiency railcars carry 15% more grain with respect to volume and 10% more in terms of weight compared with older cars that are being replaced. Moreover, the company is significantly investing in its grain fleet with additional hopper cars coming into service every week.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Landstar and Herc Holdings is pegged at 15%, 12% and 12.6%, respectively.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Canadian Pacific (CP) Sets Record For November Grain Movement
Canadian Pacific Railway Limited (CP - Free Report) achieved another monthly record in November and second-best-ever month for shipping by moving 2.96 million metric tonnes (MMT) of Canadian grain and grain products. With this, the company exceeded its November 2019 record by 8%.
In 2020-2021 crop year, Canadian Pacific shipped 11.13 MMT of grains exceeding the amount shipped during the same time period in the 2019-2020 crop year by 15 percent.
In line with the objective of investing in its grain fleet, Canadian Pacific added more than 3,700 new hopper cars to its fleet via purchase or lease. The new high-efficiency railcars carry 15% more grain with respect to volume and 10% more in terms of weight compared with older cars that are being replaced. Moreover, the company is significantly investing in its grain fleet with additional hopper cars coming into service every week.
Notably, the company is performing brilliantly with respect to the movement of Canadian grain and grain products for quite some time. Toward this end, the company set a new record in October by moving 3.04 MMT of grains, the first time ever that Canadian Pacific exceeded 3 MMT in a month.
Zacks Rank & Stocks to Consider
Canadian Pacific currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Landstar System, Inc. (LSTR - Free Report) and Herc Holdings Inc. (HRI - Free Report) . Landstar carries a Zacks Rank #2 (Buy), while Knight-Swift and Herc Holdings sport a Zacks Rank #1 (Strong Buy). 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, Landstar and Herc Holdings is pegged at 15%, 12% and 12.6%, respectively.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>