$1.07 Earnings Per Share Expected for Canadian National Railway Company (NYSE:CNI) This Quarter
Analysts expect Canadian National Railway Company (NYSE:CNI) (TSE:CNR) to post earnings of $1.07 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Canadian National Railway’s earnings, with estimates ranging from $1.02 to $1.10. Canadian National Railway posted earnings of $0.96 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Canadian National Railway will report full year earnings of $4.06 per share for the current financial year, with EPS estimates ranging from $3.89 to $4.12. For the next financial year, analysts anticipate that the company will post earnings of $4.44 per share, with EPS estimates ranging from $4.17 to $4.60. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Canadian National Railway.
A number of brokerages have recently weighed in on CNI. Stifel Nicolaus increased their price objective on Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. Barclays PLC restated an “equal weight” rating and issued a $81.00 target price (up previously from $69.00) on shares of Canadian National Railway in a research note on Wednesday, May 17th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Tuesday, July 11th. BidaskClub upgraded Canadian National Railway from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Canadian National Railway in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. Canadian National Railway has a consensus rating of “Hold” and an average price target of $80.56.
Shares of Canadian National Railway (NYSE:CNI) traded up 0.29% on Tuesday, reaching $80.08. The company’s stock had a trading volume of 1,055,881 shares. The firm has a 50 day moving average price of $81.27 and a 200-day moving average price of $75.24. The stock has a market cap of $60.14 billion, a PE ratio of 19.84 and a beta of 1.11. Canadian National Railway has a 12-month low of $61.11 and a 12-month high of $84.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.3276 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, September 7th. This represents a $1.31 annualized dividend and a yield of 1.64%. Canadian National Railway’s payout ratio is presently 31.77%.
Several large investors have recently made changes to their positions in CNI. Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 7.9% in the first quarter. Wellington Management Group LLP now owns 30,335,430 shares of the transportation company’s stock valued at $2,236,347,000 after buying an additional 2,227,390 shares during the period. TD Asset Management Inc. raised its stake in Canadian National Railway by 4.1% in the second quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock worth $1,526,012,000 after buying an additional 740,664 shares during the last quarter. FMR LLC raised its stake in Canadian National Railway by 0.8% in the first quarter. FMR LLC now owns 15,656,372 shares of the transportation company’s stock worth $1,155,641,000 after buying an additional 121,762 shares during the last quarter. Vanguard Group Inc. raised its stake in Canadian National Railway by 3.5% in the first quarter. Vanguard Group Inc. now owns 14,542,225 shares of the transportation company’s stock worth $1,075,107,000 after buying an additional 493,026 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. raised its stake in Canadian National Railway by 4.2% in the first quarter. Beutel Goodman & Co Ltd. now owns 6,166,745 shares of the transportation company’s stock worth $454,413,000 after buying an additional 247,575 shares during the last quarter. 55.30% of the stock is currently owned by institutional investors and hedge funds.
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About Canadian National Railway
Canadian National Railway Company 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 and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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