Analysts predict that Canadian National Railway (NYSE:CNI) (TSE:CNR) will post sales of $2.58 billion for the current quarter, according to Zacks. Seven analysts have issued estimates for Canadian National Railway’s earnings. The highest sales estimate is $2.71 billion and the lowest is $2.48 billion. Canadian National Railway posted sales of $2.43 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The firm is expected to report its next earnings report on Monday, April 23rd.
On average, analysts expect that Canadian National Railway will report full-year sales of $2.58 billion for the current fiscal year, with estimates ranging from $10.54 billion to $11.24 billion. For the next year, analysts anticipate that the company will post sales of $11.56 billion per share, with estimates ranging from $11.10 billion to $11.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Canadian National Railway.
Several brokerages have recently issued reports on CNI. Royal Bank of Canada restated an “outperform” rating on shares of Canadian National Railway in a research report on Wednesday, October 25th. Credit Suisse Group decreased their target price on shares of Canadian National Railway from $85.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. 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 target price on the stock. Macquarie upgraded shares of Canadian National Railway from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Canadian National Railway currently has an average rating of “Hold” and an average target price of $81.38.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 8th will be paid a $0.3665 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.47 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, March 7th. Canadian National Railway’s dividend payout ratio is currently 23.23%.
Canadian National Railway declared that its Board of Directors has approved a share buyback program on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently modified their holdings of the business. Harding Loevner LP grew its stake in Canadian National Railway by 2,838.1% in the 3rd 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Canadian National Railway by 0.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,870,472 shares of the transportation company’s stock worth $1,317,389,000 after acquiring an additional 46,700 shares in the last quarter. Jarislowsky Fraser Ltd grew its stake in Canadian National Railway by 0.3% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 10,255,502 shares of the transportation company’s stock worth $847,732,000 after acquiring an additional 25,974 shares in the last quarter. CIBC Asset Management Inc grew its stake in Canadian National Railway by 4.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,343,427 shares of the transportation company’s stock worth $525,260,000 after acquiring an additional 251,556 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Canadian National Railway by 10.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,048,417 shares of the transportation company’s stock worth $417,514,000 after acquiring an additional 482,544 shares in the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.
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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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