Canadian National Railway Company (NYSE:CNI) (TSE:CNR) – Equities researchers at Desjardins upped their FY2017 earnings per share (EPS) estimates for shares of Canadian National Railway in a report issued on Monday. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings of $4.28 per share for the year, up from their previous forecast of $4.08. Desjardins also issued estimates for Canadian National Railway’s FY2019 earnings at $4.91 EPS.
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Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, July 11th. Cowen and Company restated a “buy” rating and set a $83.00 price objective on shares of Canadian National Railway in a research report on Sunday, September 24th. Stifel Nicolaus restated a “hold” rating and set a $89.00 price objective on shares of Canadian National Railway in a research report on Friday, October 6th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Canadian National Railway in a research report on Friday, July 28th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $82.47.
Shares of Canadian National Railway (CNI) traded up 0.88% during midday trading on Tuesday, reaching $81.80. 211,765 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $81.37 and a 200-day moving average of $78.88. The stock has a market cap of $61.43 billion, a price-to-earnings ratio of 19.56 and a beta of 1.13. Canadian National Railway has a one year low of $61.72 and a one year high of $84.48.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were paid a dividend of $0.3276 per share. The ex-dividend date of this dividend was Thursday, September 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.62%. Canadian National Railway’s payout ratio is currently 34.38%.
Hedge funds have recently added to or reduced their stakes in the stock. Broderick Brian C boosted its stake in shares of Canadian National Railway by 0.7% during the 1st quarter. Broderick Brian C now owns 111,198 shares of the transportation company’s stock worth $8,220,000 after purchasing an additional 748 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Canadian National Railway during the 2nd quarter worth about $2,293,000. Eaton Vance Management boosted its stake in shares of Canadian National Railway by 5,323.4% during the 2nd quarter. Eaton Vance Management now owns 203,757 shares of the transportation company’s stock worth $16,515,000 after purchasing an additional 200,000 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Canadian National Railway by 5.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 122,795 shares of the transportation company’s stock worth $9,952,000 after purchasing an additional 5,955 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Canadian National Railway by 9.9% during the 1st quarter. AQR Capital Management LLC now owns 468,923 shares of the transportation company’s stock worth $34,514,000 after purchasing an additional 42,354 shares during the period. 54.44% of the stock is owned by hedge funds and other institutional investors.
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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