Raymond James Financial Equities Analysts Lift Earnings Estimates for Canadian National Railway Co. (CNI)
Canadian National Railway Co. (NYSE:CNI) – Equities research analysts at Raymond James Financial raised their FY2016 EPS estimates for Canadian National Railway in a report issued on Monday. Raymond James Financial analyst S. Hansen now expects that the firm will earn $3.44 per share for the year, up from their prior forecast of $3.42. Raymond James Financial has a “Market Perform” rating on the stock. Raymond James Financial also issued estimates for Canadian National Railway’s Q4 2016 earnings at $0.89 EPS and FY2017 earnings at $3.80 EPS.
A number of other equities research analysts also recently weighed in on the company. Vertical Research assumed coverage on Canadian National Railway in a research report on Tuesday, October 11th. They set a “hold” rating on the stock. TD Securities restated a “hold” rating and set a $90.00 price target on shares of Canadian National Railway in a research report on Saturday, October 8th. Scotiabank restated a “sector perform” rating and set a $87.00 price target on shares of Canadian National Railway in a research report on Sunday, October 2nd. Loop Capital assumed coverage on Canadian National Railway in a research report on Monday, September 26th. They set a “hold” rating and a $64.00 price target on the stock. Finally, Citigroup Inc. raised their price target on Canadian National Railway from $61.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $74.16.
Canadian National Railway (NYSE:CNI) traded up 0.217% on Wednesday, reaching $67.095. The company had a trading volume of 758,636 shares. Canadian National Railway has a one year low of $46.23 and a one year high of $67.66. The firm has a market capitalization of $51.77 billion, a price-to-earnings ratio of 19.550 and a beta of 1.10. The company’s 50 day moving average is $64.77 and its 200-day moving average is $62.15.
Canadian National Railway (NYSE:CNI) last posted its quarterly earnings results on Monday, July 25th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. Canadian National Railway had a return on equity of 24.13% and a net margin of 29.55%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business earned $1.15 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the company. Carroll Financial Associates Inc. raised its position in shares of Canadian National Railway by 8.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,638 shares of the company’s stock worth $107,000 after buying an additional 132 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in shares of Canadian National Railway by 81.9% in the second quarter. Kistler Tiffany Companies LLC now owns 1,699 shares of the company’s stock worth $100,000 after buying an additional 765 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in shares of Canadian National Railway during the second quarter worth $104,000. Bessemer Group Inc. raised its position in shares of Canadian National Railway by 119.4% in the first quarter. Bessemer Group Inc. now owns 1,968 shares of the company’s stock worth $123,000 after buying an additional 1,071 shares during the last quarter. Finally, Armbruster Capital Management Inc. raised its position in shares of Canadian National Railway by 57.1% in the second quarter. Armbruster Capital Management Inc. now owns 2,200 shares of the company’s stock worth $130,000 after buying an additional 800 shares during the last quarter. Institutional investors own 56.12% of the company’s stock.
The company also recently disclosed a dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were issued a $0.288 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. Canadian National Railway’s payout ratio is currently 33.43%.
Canadian National Railway Company Profile
Canadian National Railway Co 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. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.
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