Cormark Equities Analysts Cut Earnings Estimates for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Cormark reduced their FY2017 earnings per share estimates for Canadian National Railway in a report released on Thursday, Zacks Investment Research reports. Cormark analyst D. Tyerman now anticipates that the transportation company will post earnings of $3.99 per share for the year, down from their prior forecast of $4.00. Cormark also issued estimates for Canadian National Railway’s Q4 2017 earnings at $0.96 EPS, Q1 2018 earnings at $0.90 EPS, Q2 2018 earnings at $1.14 EPS and FY2022 earnings at $6.71 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 24th. The transportation company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). Canadian National Railway had a net margin of 29.98% and a return on equity of 25.57%.

CNI has been the topic of several other reports. Zacks Investment Research cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Deutsche Bank started coverage on shares of Canadian National Railway in a report on Wednesday, November 1st. They set a “sell” rating and a $73.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating on shares of Canadian National Railway in a report on Wednesday, October 25th. CIBC upgraded shares of Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a report on Wednesday, November 8th. Finally, TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $79.67.

Canadian National Railway (NYSE CNI) opened at $80.56 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 0.61. Canadian National Railway has a fifty-two week low of $68.27 and a fifty-two week high of $85.73. The company has a market cap of $60,008.82, a price-to-earnings ratio of 20.66, a PEG ratio of 2.00 and a beta of 1.09.

A number of large investors have recently modified their holdings of the stock. Hall Laurie J Trustee boosted its holdings in Canadian National Railway by 4.1% in the second 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. Suntrust Banks Inc. lifted its position in Canadian National Railway by 0.6% during the 2nd quarter. Suntrust Banks Inc. now owns 8,385 shares of the transportation company’s stock worth $679,000 after acquiring an additional 52 shares during the last quarter. Sterling Capital Management LLC lifted its position in Canadian National Railway by 4.9% during the 2nd quarter. Sterling Capital Management LLC now owns 3,555 shares of the transportation company’s stock worth $288,000 after acquiring an additional 166 shares during the last quarter. Comerica Securities Inc. lifted its position in Canadian National Railway by 1.3% during the 2nd quarter. Comerica Securities Inc. now owns 13,986 shares of the transportation company’s stock worth $1,138,000 after acquiring an additional 181 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its position in Canadian National Railway by 10.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,413 shares of the transportation company’s stock worth $280,000 after acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 53.73% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were issued a $0.3304 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. Canadian National Railway’s dividend payout ratio is currently 33.59%.

Canadian National Railway declared that its board has authorized a share buyback program on Tuesday, October 24th that permits the company to buyback 31,000,000 shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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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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Earnings History and Estimates for Canadian National Railway (NYSE:CNI)

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