Canadian National Railway (TSE:CNR) (NYSE:CNI) – Seaport Global Securities reduced their FY2017 earnings estimates for shares of Canadian National Railway in a note issued to investors on Friday. Seaport Global Securities analyst M. Levin now forecasts that the company will earn $5.02 per share for the year, down from their prior forecast of $5.08. Seaport Global Securities also issued estimates for Canadian National Railway’s Q4 2017 earnings at $1.22 EPS, FY2018 earnings at $5.45 EPS and FY2019 earnings at $6.10 EPS.
A number of other research firms also recently issued reports on CNR. National Bank Financial lifted their price objective on shares of Canadian National Railway from C$105.00 to C$108.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$110.00 to C$115.00 in a report on Thursday, November 30th. Scotiabank reaffirmed an “outperform” rating and set a C$115.00 price objective on shares of Canadian National Railway in a report on Monday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a C$110.00 target price on shares of Canadian National Railway in a research report on Friday, September 8th. Finally, J P Morgan Chase & Co decreased their target price on shares of Canadian National Railway from C$105.00 to C$104.00 in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Canadian National Railway presently has an average rating of “Buy” and an average target price of C$108.60.
In other Canadian National Railway news, insider Sean Finn sold 11,168 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of C$100.75, for a total value of C$1,125,176.00. Also, insider Jean-Jacques Ruest sold 31,464 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of C$81.99, for a total transaction of C$2,579,733.36.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s payout ratio is presently 31.56%.
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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