Canadian National Railway Company (NYSE:CNI) (TSE:CNR) – National Bank Financial upped their Q3 2017 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday. National Bank Financial analyst C. Doerksen now expects that the transportation company will earn $1.08 per share for the quarter, up from their prior forecast of $1.02. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2017 earnings at $1.06 EPS, FY2017 earnings at $4.12 EPS, Q1 2018 earnings at $1.00 EPS, Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.18 EPS and FY2018 earnings at $4.56 EPS.
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Other research analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Barclays PLC reiterated an “equal weight” rating and issued a $81.00 target price (up previously from $69.00) on shares of Canadian National Railway in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub upgraded Canadian National Railway from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $78.00 target price (up previously from $77.00) on shares of Canadian National Railway in a research report on Sunday, May 28th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $80.56.
Shares of Canadian National Railway (CNI) opened at 79.59 on Thursday. Canadian National Railway has a 1-year low of $61.11 and a 1-year high of $84.48. The firm has a market capitalization of $60.18 billion, a PE ratio of 20.82 and a beta of 1.12. The firm has a 50-day moving average of $81.23 and a 200-day moving average of $74.84.
Several institutional investors have recently bought and sold shares of CNI. Dimensional Fund Advisors LP raised its position in Canadian National Railway by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 231,908 shares of the transportation company’s stock worth $15,631,000 after buying an additional 11,991 shares in the last quarter. Guggenheim Capital LLC raised its position in Canadian National Railway by 114.6% in the fourth quarter. Guggenheim Capital LLC now owns 12,809 shares of the transportation company’s stock worth $863,000 after buying an additional 6,839 shares in the last quarter. Brookfield Asset Management Inc. bought a new position in Canadian National Railway during the fourth quarter worth approximately $17,710,000. First Financial Bank N.A. Trust Division raised its position in Canadian National Railway by 3.9% in the first quarter. First Financial Bank N.A. Trust Division now owns 51,235 shares of the transportation company’s stock worth $3,788,000 after buying an additional 1,918 shares in the last quarter. Finally, Cardinal Capital Management Inc. raised its position in Canadian National Railway by 1.0% in the first quarter. Cardinal Capital Management Inc. now owns 561,925 shares of the transportation company’s stock worth $41,405,000 after buying an additional 5,450 shares in the last quarter. 55.16% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.3276 dividend. 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 dividend yield of 1.65%. The ex-dividend date is Thursday, September 7th. Canadian National Railway’s payout ratio is currently 31.77%.
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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