Canadian National Railway (CNI) Forecasted to Post FY2017 Earnings of $3.92 Per Share
Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at National Bank Financial reduced their FY2017 EPS estimates for Canadian National Railway in a research report issued on Tuesday. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings of $3.92 per share for the year, down from their prior forecast of $4.02. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2017 earnings at $0.95 EPS, Q1 2018 earnings at $0.97 EPS, Q2 2018 earnings at $1.10 EPS, Q3 2018 earnings at $1.09 EPS, Q4 2018 earnings at $1.12 EPS, FY2018 earnings at $4.27 EPS and FY2019 earnings at $4.64 EPS.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, December 11th. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group assumed coverage on shares of Canadian National Railway in a research note on Monday, November 13th. They issued a “buy” rating and a $85.00 price target on the stock. CIBC raised shares of Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, November 8th. Finally, Deutsche Bank assumed coverage on shares of Canadian National Railway in a research note on Wednesday, November 1st. They issued a “sell” rating and a $73.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $79.67.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hall Laurie J Trustee lifted its stake in Canadian National Railway by 4.1% in the 2nd quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after purchasing an additional 50 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Canadian National Railway by 0.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after purchasing an additional 12 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Canadian National Railway by 0.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after purchasing an additional 15 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new position in Canadian National Railway in the 2nd quarter worth approximately $146,000. Finally, Security National Bank of SO Dak purchased a new position in Canadian National Railway in the 3rd quarter worth approximately $203,000. 53.83% of the stock is currently owned by institutional investors and hedge funds.
Canadian National Railway declared that its board has authorized a share buyback program on Tuesday, October 24th that allows the company to repurchase 31,000,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.3304 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, December 7th. Canadian National Railway’s dividend payout ratio (DPR) is 33.33%.
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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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