Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at Desjardins cut their FY2017 EPS estimates for Canadian National Railway in a research report issued on Monday. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings per share of $3.91 for the year, down from their previous forecast of $3.98. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for Canadian National Railway’s Q4 2017 earnings at $0.97 EPS and FY2018 earnings at $4.17 EPS.

Other equities research analysts have also issued reports about the stock. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group began coverage on shares of Canadian National Railway in a research report on Monday, November 13th. They set a “buy” rating and a $85.00 price objective on the stock. Cowen reissued a “buy” rating and set a $83.00 price objective on shares of Canadian National Railway in a research report on Sunday, September 24th. Stifel Nicolaus reissued a “hold” rating and set a $89.00 price objective on shares of Canadian National Railway in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $79.67.

Shares of Canadian National Railway (CNI) opened at $79.89 on Tuesday. Canadian National Railway has a one year low of $66.58 and a one year high of $84.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 0.61. The company has a market cap of $59,740.23, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.16 and a beta of 1.09.

Canadian National Railway declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 24th that authorizes the company to buyback 31,000,000 shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $0.3304 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.32 dividend on an annualized basis and a yield of 1.65%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s payout ratio is currently 33.33%.

A number of institutional investors and hedge funds have recently made changes to their positions in CNI. Harding Loevner LP raised its position in Canadian National Railway by 2,838.1% during the third quarter. Harding Loevner LP now owns 180,965,047 shares of the transportation company’s stock worth $366,305,000 after acquiring an additional 174,805,844 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Canadian National Railway by 363.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,913,974 shares of the transportation company’s stock valued at $479,249,000 after buying an additional 4,636,737 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Canadian National Railway by 15.5% in the second quarter. Vanguard Group Inc. now owns 16,793,837 shares of the transportation company’s stock valued at $1,361,140,000 after buying an additional 2,251,612 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Canadian National Railway by 34.7% in the second quarter. William Blair Investment Management LLC now owns 4,474,642 shares of the transportation company’s stock valued at $362,542,000 after buying an additional 1,152,495 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Canadian National Railway by 50.6% in the third quarter. APG Asset Management N.V. now owns 1,720,175 shares of the transportation company’s stock valued at $142,193,000 after buying an additional 578,200 shares during the last quarter. Institutional investors own 53.83% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Desjardins Weighs in on Canadian National Railway’s FY2017 Earnings (CNI)” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/12/12/desjardins-weighs-in-on-canadian-national-railways-fy2017-earnings-cni.html.

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.

Earnings History and Estimates for Canadian National Railway (NYSE:CNI)

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.