Cormark Equities Analysts Cut Earnings Estimates for Canadian National Railway (CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Cormark dropped their FY2017 earnings estimates for Canadian National Railway in a report released on Thursday. Cormark analyst D. Tyerman now anticipates that the transportation company will earn $3.99 per share for the year, down from their prior forecast of $4.00. Cormark also issued estimates for Canadian National Railway’s Q4 2017 earnings at $0.96 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $1.14 EPS and FY2022 earnings at $6.71 EPS.

Several other analysts have also recently issued reports on the company. Goldman Sachs Group started coverage on Canadian National Railway in a research note on Monday, November 13th. They issued a “buy” rating and a $85.00 target price on the stock. Zacks Investment Research cut Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Desjardins raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Raymond James Financial cut Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank started coverage on Canadian National Railway in a research note on Wednesday, November 1st. They issued a “sell” rating and a $73.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $79.67.

Shares of Canadian National Railway (NYSE CNI) opened at $80.96 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $60,400.00, a PE ratio of 19.84, a P/E/G ratio of 2.04 and a beta of 1.09. Canadian National Railway has a 12 month low of $68.27 and a 12 month high of $85.73.

Institutional investors and hedge funds have recently modified their holdings of the business. Hall Laurie J Trustee lifted 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 buying an additional 50 shares during the period. Sowell Financial Services LLC purchased a new stake in Canadian National Railway in the third quarter worth about $200,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in Canadian National Railway in the second quarter worth about $203,000. Security National Bank of SO Dak purchased a new stake in Canadian National Railway in the third quarter worth about $203,000. Finally, CAPROCK Group Inc. purchased a new stake in Canadian National Railway in the third quarter worth about $216,000. Institutional investors and hedge funds own 53.73% of the company’s stock.

Canadian National Railway declared that its board has initiated a stock buyback plan on Tuesday, October 24th that allows the company to buyback 31,000,000 shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were issued a $0.3304 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 1.63%. Canadian National Railway’s dividend payout ratio (DPR) is 32.11%.

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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.

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

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