Canadian National Railway Company (CNI) to Issue Quarterly Dividend of C$0.92 on June 30th

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Tuesday, June 9th will be given a dividend of 0.915 per share by the transportation company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, June 9th.

Canadian National Railway has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Canadian National Railway has a payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Canadian National Railway to earn $6.40 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 41.7%.

Canadian National Railway Stock Up 0.8%

CNI stock opened at $120.50 on Friday. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.31 and a beta of 0.96. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Canadian National Railway has a 12 month low of $90.74 and a 12 month high of $122.48. The firm has a 50-day moving average of $111.57 and a two-hundred day moving average of $104.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting analysts’ consensus estimates of $1.31. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. Canadian National Railway’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. As a group, analysts forecast that Canadian National Railway will post 5.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CNI has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Royal Bank Of Canada raised their price target on shares of Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Sanford C. Bernstein raised their price target on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Barclays raised their price target on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $122.04.

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.