Has Canadian Pacific Railway (CP) Outpaced Other Transportation Stocks This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Canadian Pacific Railway (CP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CP and the rest of the Transportation group's stocks.
Canadian Pacific Railway is a member of our Transportation group, which includes 140 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CP's full-year earnings has moved 2.54% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CP has returned about 23% since the start of the calendar year. In comparison, Transportation companies have returned an average of 0.94%. This shows that Canadian Pacific Railway is outperforming its peers so far this year.
Looking more specifically, CP belongs to the Transportation - Rail industry, which includes 8 individual stocks and currently sits at #183 in the Zacks Industry Rank. On average, this group has gained an average of 9.38% so far this year, meaning that CP is performing better in terms of year-to-date returns.
CP will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
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