Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) – Stock analysts at Raymond James lifted their Q2 2022 EPS estimates for Canadian National Railway in a note issued to investors on Wednesday, April 27th. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.37 per share for the quarter, up from their prior estimate of $1.34. Raymond James has a “Market Perform” rating on the stock. Raymond James also issued estimates for Canadian National Railway’s Q3 2022 earnings at $1.47 EPS and Q4 2022 earnings at $1.53 EPS.
Several other brokerages have also recently weighed in on CNI. Argus raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Thursday, February 17th. They noted that the move was a valuation call. Scotiabank lowered their price target on Canadian National Railway from C$174.00 to C$172.00 in a research note on Wednesday. Desjardins lowered their price target on Canadian National Railway from C$173.00 to C$172.00 in a research note on Thursday. National Bank Financial lowered their price target on Canadian National Railway from C$172.00 to C$168.00 in a research note on Friday, April 8th. Finally, Wells Fargo & Company upped their price target on Canadian National Railway from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, January 10th. Eighteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $147.76.
Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last announced its quarterly earnings data on Tuesday, April 26th. The transportation company reported $1.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.07). The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. Canadian National Railway had a return on equity of 19.91% and a net margin of 33.77%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 9th will be given a dividend of $0.586 per share. The ex-dividend date of this dividend is Wednesday, June 8th. This represents a $2.34 dividend on an annualized basis and a yield of 1.93%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s dividend payout ratio is 41.71%.
A number of large investors have recently added to or reduced their stakes in CNI. New York State Common Retirement Fund boosted its position in Canadian National Railway by 17.1% during the 3rd quarter. New York State Common Retirement Fund now owns 188,221 shares of the transportation company’s stock worth $21,768,000 after acquiring an additional 27,421 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Canadian National Railway by 2.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 70,422 shares of the transportation company’s stock valued at $8,151,000 after buying an additional 1,566 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $257,000. Financial Advocates Investment Management acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $638,000. Finally, JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $1,735,000. 69.36% of the stock is owned by hedge funds and other institutional investors.
Canadian National Railway Company Profile (Get Rating)
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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