Canadian National Railway Rating Reiterated by Zacks (CNI)
Canadian National Railway (NYSE:CNI)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Thursday. They currently have a $71.00 target price on the stock. Zacks‘s target price suggests a potential upside of 5.53% from the company’s current price.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on Canadian National Railway. The company reported strong second-quarter 2014 results that surpassed the Zacks Consensus Estimate on both the lines. Strong demand across most of its businesses with improvements in the U.S. economy and domestic retail markets bodes well for the company. In the near term, we expect growth in shipment related to automotive, housing, grains and intermodal to drive revenues. Expected market gains from frac sand and investments in infrastructure will boost its long-term prospects. Nevertheless, lower coal shipments, particularly for export, continue to be a headwind for the company. Higher expenses, competitive pressure and slow recovery in global economy are other deterrents, which dampen our optimism regarding the company.”
CNI has been the subject of a number of other recent research reports. Analysts at TD Securities downgraded shares of Canadian National Railway to a “hold” rating in a research note on Friday, August 1st. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Canadian National Railway in a research note on Tuesday, July 22nd. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.27.
Canadian National Railway (NYSE:CNI) traded up 0.95% during mid-day trading on Thursday, hitting $67.9201. 422,538 shares of the company’s stock traded hands. Canadian National Railway has a 52 week low of $46.71 and a 52 week high of $69.75. The stock’s 50-day moving average is $66.4 and its 200-day moving average is $59.77. The company has a market cap of $55.586 billion and a P/E ratio of 21.91.
Canadian National Railway (NYSE:CNI) last released its earnings data on Monday, July 21st. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.99 by $0.04. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company posted $1.66 earnings per share. Canadian National Railway’s revenue was up 16.9% compared to the same quarter last year. Analysts expect that Canadian National Railway will post $3.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.2327 per share. This represents a $0.93 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, September 5th.
Canadian National Railway Company (NYSE:CNI) is engaged in the rail and related transportation business.
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