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CP - Canadian Pacific Railway News Story

C$390.09 7.1  1.9%

Last Trade - 7:44pm

Sector
Industrials
Size
Large Cap
Market Cap £29.75bn
Enterprise Value £35.06bn
Revenue £4.52bn
Position in Universe 12th / 2678

BUZZ-CP Rail: Rises on Q1 profit beat, BMO says better-positioned than peers

Wed 22nd April, 2020 5:40pm
** Shares of Canada's second-largest railroad operator 
 CP.TO  rise 3% to C$314.67
    ** CP reports Q1 profit per share of C$4.42, higher than
analysts' estimates of C$4.09, according to Refinitiv data,
driven by higher shipments of grains, energy, chemicals and
plastic  urn:newsml:reuters.com:*:nL3N2C91MR
    ** However, the company tempers its 2020 adj. profit and now
expects it to be flat due to the coronavirus pandemic; warns of
rapidly slowing crude volumes
    ** CP is expected to weather the storm better than peers and
is well-positioned for recovery with its competitive cost
structure, strong service levels, demonstrated commercial
success and a number of other shock absorbers - BMO Capital
    ** CP's bulk-weighted volumes should continue to hold up
better relative to those of its peers, and our expectation that
the company will maintain its track-record of appropriately
adjusting resources to changing business conditions - TD
Securities
    ** Out of 18 brokerages, 8 rate the stock "buy", 9 "hold"
and 1 "sell"; median PT is C$335
    ** Stock down 4.9% so far this year

 (Reporting by Shanti S Nair in Bengaluru)
 ((ShantiS.Nair@thomsonreuters.com))
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