$2.98 Billion in Sales Expected for Canadian National Railway (NYSE:CNI) This Quarter

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Wall Street brokerages forecast that Canadian National Railway (NYSE:CNI) (TSE:CNR) will report $2.98 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Canadian National Railway’s earnings, with the highest sales estimate coming in at $3.08 billion and the lowest estimate coming in at $2.80 billion. Canadian National Railway posted sales of $2.81 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The company is expected to report its next earnings results on Tuesday, July 23rd.

On average, analysts expect that Canadian National Railway will report full year sales of $11.69 billion for the current year, with estimates ranging from $11.42 billion to $11.93 billion. For the next fiscal year, analysts forecast that the company will post sales of $12.43 billion, with estimates ranging from $12.15 billion to $12.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Canadian National Railway.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Monday, April 29th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.28. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Canadian National Railway had a return on equity of 23.64% and a net margin of 29.86%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS.

Several brokerages have recently issued reports on CNI. BMO Capital Markets raised Canadian National Railway to a “market perform” rating and set a $125.00 price objective for the company in a report on Tuesday, April 30th. They noted that the move was a valuation call. Royal Bank of Canada cut Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 price target for the company. in a report on Tuesday, April 30th. ValuEngine raised Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Stephens upped their price target on Canadian National Railway from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Stifel Nicolaus upped their price target on Canadian National Railway from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $98.12.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its stake in Canadian National Railway by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 19,024,269 shares of the transportation company’s stock worth $1,708,379,000 after buying an additional 497,662 shares in the last quarter. Bank of Montreal Can increased its stake in Canadian National Railway by 2.6% during the 1st quarter. Bank of Montreal Can now owns 16,620,227 shares of the transportation company’s stock worth $1,487,177,000 after buying an additional 423,878 shares in the last quarter. TD Asset Management Inc. increased its stake in Canadian National Railway by 0.3% during the 1st quarter. TD Asset Management Inc. now owns 16,466,067 shares of the transportation company’s stock worth $1,474,482,000 after buying an additional 46,720 shares in the last quarter. FIL Ltd increased its stake in Canadian National Railway by 22.7% during the 1st quarter. FIL Ltd now owns 9,901,396 shares of the transportation company’s stock worth $886,372,000 after buying an additional 1,829,102 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Canadian National Railway by 29.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,642,677 shares of the transportation company’s stock worth $492,289,000 after buying an additional 1,500,861 shares in the last quarter. 54.29% of the stock is owned by institutional investors.

Shares of CNI stock traded up $0.58 on Wednesday, hitting $92.27. The company had a trading volume of 32,026 shares, compared to its average volume of 786,332. The stock has a market cap of $66.31 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 0.69. Canadian National Railway has a twelve month low of $70.36 and a twelve month high of $95.08.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.3982 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.59 dividend on an annualized basis and a yield of 1.73%. Canadian National Railway’s payout ratio is 38.94%.

About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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

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