Canadian National Railway Company (CNI) Expected to Post Quarterly Sales of $2.63 Billion
Analysts predict that Canadian National Railway Company (NYSE:CNI) (TSE:CNR) will report sales of $2.63 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Canadian National Railway’s earnings, with the lowest sales estimate coming in at $2.57 billion and the highest estimate coming in at $2.71 billion. Canadian National Railway reported sales of $2.31 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, October 24th.
On average, analysts expect that Canadian National Railway will report full-year sales of $2.63 billion for the current year, with estimates ranging from $10.44 billion to $10.75 billion. For the next financial year, analysts expect that the firm will report sales of $11.00 billion per share, with estimates ranging from $10.69 billion to $11.17 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Canadian National Railway.
Several analysts recently issued reports on the company. Credit Suisse Group reissued a “neutral” rating and issued a $84.00 target price (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. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Tuesday, July 11th. BidaskClub lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus lifted their target price on shares of Canadian National Railway from $74.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, June 15th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $80.56.
Shares of Canadian National Railway (CNI) opened at 81.64 on Friday. The firm has a 50 day moving average price of $80.16 and a 200-day moving average price of $77.31. The company has a market cap of $61.31 billion, a price-to-earnings ratio of 20.36 and a beta of 1.11. Canadian National Railway has a 52-week low of $61.72 and a 52-week high of $84.48.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.3276 per share. The ex-dividend date of this dividend is Thursday, September 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.31. This represents a $1.31 dividend on an annualized basis and a yield of 1.61%. Canadian National Railway’s payout ratio is presently 34.38%.
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Hedge funds have recently modified their holdings of the business. Hall Laurie J Trustee raised its stake in Canadian National Railway by 4.1% during the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after purchasing an additional 50 shares during the period. City Holding Co. increased its stake in Canadian National Railway by 15.4% during the 2nd quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock worth $106,000 after buying an additional 175 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Canadian National Railway by 598.5% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,404 shares of the transportation company’s stock worth $104,000 after buying an additional 1,203 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Canadian National Railway during the 1st quarter worth approximately $123,000. Finally, Proficio Capital Partners LLC increased its stake in Canadian National Railway by 151.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,768 shares of the transportation company’s stock worth $135,000 after buying an additional 1,066 shares during the period. 54.49% of the stock is currently owned by institutional investors.
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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