Equities analysts forecast that Canadian National Railway (NYSE:CNI) (TSE:CNR) will announce $2.56 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Canadian National Railway’s earnings, with the lowest sales estimate coming in at $2.48 billion and the highest estimate coming in at $2.71 billion. Canadian National Railway reported sales of $2.43 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The business is expected to announce its next earnings report on Monday, April 23rd.
On average, analysts expect that Canadian National Railway will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $10.54 billion to $11.24 billion. For the next financial year, analysts anticipate that the business will report sales of $11.52 billion per share, with estimates ranging from $11.10 billion to $11.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Canadian National Railway.
Several equities analysts recently issued reports on CNI shares. Deutsche Bank started coverage on Canadian National Railway in a report on Wednesday, November 1st. They set a “sell” rating and a $73.00 price objective for the company. Zacks Investment Research raised Canadian National Railway from a “sell” rating to a “hold” rating in a report on Monday, November 6th. CIBC raised Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a report on Wednesday, November 8th. Goldman Sachs Group started coverage on Canadian National Railway in a report on Monday, November 13th. They set a “buy” rating and a $85.00 price objective for the company. Finally, TD Securities raised 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.38.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 8th will be issued a $0.3665 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, March 7th. Canadian National Railway’s payout ratio is 23.02%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in Canadian National Railway in the fourth quarter valued at $142,000. Delpha Capital Management LLC acquired a new position in Canadian National Railway in the fourth quarter valued at $143,000. Goodman Financial Corp acquired a new position in Canadian National Railway in the fourth quarter valued at $165,000. We Are One Seven LLC acquired a new position in Canadian National Railway in the fourth quarter valued at $192,000. Finally, Sowell Financial Services LLC acquired a new position in Canadian National Railway in the third quarter valued at $200,000. 54.49% of the stock is owned by institutional investors.
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Canadian National Railway Company Profile
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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