Raymond James Financial Equities Analysts Lift Earnings Estimates for Canadian National Railway Co. (CNI)
Canadian National Railway Co. (NYSE:CNI) – Equities research analysts at Raymond James Financial upped their FY2016 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Monday. Raymond James Financial analyst S. Hansen now anticipates that the brokerage will post earnings of $3.44 per share for the year, up from their prior forecast of $3.42. Raymond James Financial has a “Market Perform” rating on the stock. Raymond James Financial also issued estimates for Canadian National Railway’s Q4 2016 earnings at $0.89 EPS and FY2017 earnings at $3.80 EPS.
Canadian National Railway (NYSE:CNI) last released its earnings results on Monday, July 25th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. The business earned $2.84 billion during the quarter, compared to analysts’ expectations of $3 billion. Canadian National Railway had a net margin of 29.55% and a return on equity of 24.13%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share.
Other analysts have also recently issued research reports about the stock. TD Securities restated a “hold” rating and issued a $87.00 target price (up previously from $86.00) on shares of Canadian National Railway in a research note on Tuesday, July 26th. Atlantic Securities initiated coverage on shares of Canadian National Railway in a research note on Thursday, August 11th. They issued a “neutral” rating for the company. BMO Capital Markets restated an “outperform” rating and issued a $85.00 target price on shares of Canadian National Railway in a research note on Thursday, July 7th. Scotiabank restated a “sector perform” rating and issued a $87.00 target price (up previously from $81.00) on shares of Canadian National Railway in a research note on Tuesday, July 26th. Finally, Argus initiated coverage on shares of Canadian National Railway in a research note on Tuesday, June 21st. They issued a “buy” rating and a $73.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.16.
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Canadian National Railway (NYSE:CNI) traded up 0.217% during mid-day trading on Wednesday, hitting $67.095. 758,636 shares of the stock were exchanged. The company has a market cap of $51.77 billion, a P/E ratio of 19.550 and a beta of 1.10. The company has a 50-day moving average price of $64.77 and a 200-day moving average price of $62.15. Canadian National Railway has a one year low of $46.23 and a one year high of $67.66.
A number of large investors have recently added to or reduced their stakes in CNI. Kistler Tiffany Companies LLC increased its stake in Canadian National Railway by 81.9% in the second quarter. Kistler Tiffany Companies LLC now owns 1,699 shares of the company’s stock worth $100,000 after buying an additional 765 shares during the last quarter. Pinkerton Retirement Specialists LLC acquired a new position in shares of Canadian National Railway during the second quarter worth $104,000. Carroll Financial Associates Inc. boosted its position in shares of Canadian National Railway by 8.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,638 shares of the company’s stock worth $107,000 after buying an additional 132 shares during the period. Bessemer Group Inc. boosted its position in shares of Canadian National Railway by 119.4% in the first quarter. Bessemer Group Inc. now owns 1,968 shares of the company’s stock worth $123,000 after buying an additional 1,071 shares during the period. Finally, Armbruster Capital Management Inc. boosted its position in shares of Canadian National Railway by 57.1% in the second quarter. Armbruster Capital Management Inc. now owns 2,200 shares of the company’s stock worth $130,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 56.12% of the company’s stock.
The business also recently announced a dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were issued a $0.288 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. Canadian National Railway’s payout ratio is 33.43%.
Canadian National Railway Company Profile
Canadian National Railway Co is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.
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