Q4 2017 EPS Estimates for Canadian National Railway Company (CNI) Lowered by National Bank Financial
Canadian National Railway Company (NYSE:CNI) (TSE:CNR) – National Bank Financial reduced their Q4 2017 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday. National Bank Financial analyst C. Doerksen now expects that the transportation company will post earnings of $1.05 per share for the quarter, down from their previous forecast of $1.06. National Bank Financial also issued estimates for Canadian National Railway’s Q2 2018 earnings at $1.17 EPS, Q4 2018 earnings at $1.16 EPS and FY2018 earnings at $4.53 EPS.
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CNI has been the subject of a number of other reports. Credit Suisse Group reaffirmed a “neutral” rating and set a $84.00 price objective (up from $78.00) on shares of Canadian National Railway in a research note on Thursday, July 13th. They noted that the move was a valuation call. BidaskClub downgraded Canadian National Railway from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Stifel Nicolaus upped their target price on Canadian National Railway from $74.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, June 15th. Finally, 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 report on Tuesday, July 11th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $80.56.
Shares of Canadian National Railway (NYSE CNI) opened at 81.18 on Friday. The stock has a market capitalization of $60.97 billion, a P/E ratio of 20.25 and a beta of 1.11. Canadian National Railway has a 12-month low of $61.72 and a 12-month high of $84.48. The company has a 50-day moving average of $80.08 and a 200-day moving average of $77.23.
A number of large investors have recently added to or reduced their stakes in CNI. Bank of New York Mellon Corp grew its holdings in Canadian National Railway by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 925,088 shares of the transportation company’s stock valued at $68,393,000 after purchasing an additional 40,603 shares during the last quarter. Suntrust Banks Inc. grew its holdings in Canadian National Railway by 17.4% during the first quarter. Suntrust Banks Inc. now owns 8,333 shares of the transportation company’s stock valued at $615,000 after purchasing an additional 1,236 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Canadian National Railway during the first quarter valued at approximately $123,000. Ameriprise Financial Inc. grew its holdings in Canadian National Railway by 9.2% during the first quarter. Ameriprise Financial Inc. now owns 267,787 shares of the transportation company’s stock valued at $19,783,000 after purchasing an additional 22,461 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in Canadian National Railway by 70.8% during the first quarter. Virginia Retirement Systems ET AL now owns 496,100 shares of the transportation company’s stock valued at $36,514,000 after purchasing an additional 205,700 shares during the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.3276 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.31 dividend on an annualized basis and a yield of 1.62%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s dividend payout ratio is currently 34.38%.
Canadian National Railway Company Profile
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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