Railway stocks are showing no signs of slowing down, after strong quarterly results sent Canadian Pacific Railway Ltd. and Canadian National Railway Co. surging to record highs. But the question for investors is how long can this momentum last?
Canadian National got the latest uptick going after it reported its quarterly results on Tuesday evening, beating expectations with earnings of $705-million or $1.67 a share. It also announced a stock split and a $1.4-billion share buyback program. The result: the shares rose 4.4 per cent, to 114.59.