Canadian National Railway (TSE:CNR) (NYSE:CNI) – Desjardins lowered their FY2017 earnings per share estimates for Canadian National Railway in a research note issued on Monday. Desjardins analyst B. Poirier now expects that the company will post earnings per share of $5.01 for the year, down from their prior estimate of $5.04. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for Canadian National Railway’s FY2018 earnings at $5.35 EPS.
CNR has been the subject of a number of other research reports. Royal Bank of Canada decreased their price target on shares of Canadian National Railway from C$114.00 to C$113.00 and set an “outperform” rating for the company in a research note on Wednesday, October 25th. Scotiabank reduced their target price on shares of Canadian National Railway from C$115.00 to C$113.00 and set an “outperform” rating for the company in a research note on Wednesday, October 25th. CIBC reduced their target price on shares of Canadian National Railway from C$111.00 to C$110.00 in a research note on Tuesday, September 26th. BMO Capital Markets reiterated an “outperform” rating and issued a C$111.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 25th. Finally, Raymond James Financial lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and set a C$115.00 target price for the company. in a research note on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of C$108.60.
In related news, insider Jean-Jacques Ruest sold 31,464 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of C$81.99, for a total transaction of C$2,579,733.36. Also, insider Sean Finn sold 11,168 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of C$100.75, for a total transaction of C$1,125,176.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.4125 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.65 annualized dividend and a yield of 1.60%. Canadian National Railway’s payout ratio is currently 31.56%.
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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