Canadian National Railway Company (NYSE:CNI) (TSE:CNR) – Stock analysts at Cormark dropped their FY2017 earnings per share estimates for shares of Canadian National Railway in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Cormark analyst D. Tyerman now anticipates that the transportation company will earn $4.00 per share for the year, down from their prior estimate of $4.10. Cormark also issued estimates for Canadian National Railway’s Q4 2017 earnings at $1.00 EPS, Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $1.15 EPS, Q4 2018 earnings at $1.11 EPS, FY2018 earnings at $4.37 EPS, FY2019 earnings at $4.86 EPS, FY2020 earnings at $5.40 EPS and FY2021 earnings at $5.98 EPS.
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CNI has been the topic of several other research reports. Zacks Investment Research cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Deutsche Bank AG started coverage on Canadian National Railway in a report on Wednesday, November 1st. They issued a “sell” rating and a $73.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of Canadian National Railway in a research note on Wednesday, October 25th. BidaskClub downgraded shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, CIBC raised shares of Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.00.
Canadian National Railway (NYSE:CNI) traded up $0.35 during midday trading on Friday, hitting $81.00. The company’s stock had a trading volume of 686,300 shares, compared to its average volume of 1,058,240. The company has a market capitalization of $60,172.96, a PE ratio of 20.89, a P/E/G ratio of 2.17 and a beta of 1.11. Canadian National Railway has a 52 week low of $62.97 and a 52 week high of $84.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.49.
A number of large investors have recently modified their holdings of CNI. Hall Laurie J Trustee boosted its holdings in Canadian National Railway by 4.1% in 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 in the last quarter. City Holding Co. boosted its holdings in Canadian National Railway by 15.4% in the second quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock worth $106,000 after purchasing an additional 175 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Canadian National Railway by 0.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after purchasing an additional 12 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in Canadian National Railway in the first quarter worth $123,000. Finally, Proficio Capital Partners LLC boosted its holdings in Canadian National Railway by 0.8% in the second quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 54.71% of the company’s stock.
The firm 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 $0.3304 dividend. The ex-dividend date is Thursday, December 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 1.63%. Canadian National Railway’s dividend payout ratio is currently 33.85%.
Canadian National Railway announced that its Board of Directors has initiated a share buyback program on Tuesday, October 24th that allows the company to repurchase 31,000,000 shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
About Canadian National Railway
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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