Canadian National Railway Company (NYSE:CNI) Increases Dividend to C$0.92 Per Share

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) declared a quarterly dividend on Friday, January 30th. Shareholders of record on Tuesday, March 10th will be given a dividend of 0.915 per share by the transportation company on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. This is a 3.1% increase from Canadian National Railway’s previous quarterly dividend of $0.89.

Canadian National Railway has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Canadian National Railway has a payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Canadian National Railway to earn $6.21 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 43.2%.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $106.86 on Friday. The business’s fifty day simple moving average is $102.98 and its 200-day simple moving average is $98.16. The company has a market cap of $65.52 billion, a PE ratio of 19.68, a PEG ratio of 2.22 and a beta of 0.90. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12-month low of $90.74 and a 12-month high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the firm earned $1.82 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CNI shares. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their price target for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Evercore cut their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Barclays lowered their target price on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. Finally, Stephens dropped their target price on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.