Canadian National Railway (CNI) To Go Ex-Dividend on June 7th

Canadian National Railway (NYSE:CNI) (TSE:CNR) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, June 7th will be paid a dividend of 0.625 per share by the transportation company on Friday, June 28th. This represents a $2.50 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, June 7th.

Canadian National Railway has increased its dividend payment by an average of 10.3% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Canadian National Railway has a dividend payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Canadian National Railway to earn $6.63 per share next year, which means the company should continue to be able to cover its $2.49 annual dividend with an expected future payout ratio of 37.6%.

Canadian National Railway Trading Up 1.3 %

Shares of NYSE:CNI traded up $1.54 during trading hours on Thursday, hitting $124.40. 408,093 shares of the company’s stock traded hands, compared to its average volume of 1,010,723. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The business has a fifty day moving average price of $129.68 and a 200-day moving average price of $122.20. The firm has a market capitalization of $79.45 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. Equities analysts expect that Canadian National Railway will post 5.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of recent research reports. CIBC downgraded shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. TD Securities downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Stephens reissued an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Finally, Susquehanna upped their price target on Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus target price of $147.86.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.