$2.97 Billion in Sales Expected for Canadian National Railway (NYSE:CNI) This Quarter

Brokerages expect Canadian National Railway (NYSE:CNI) (TSE:CNR) to post sales of $2.97 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Canadian National Railway’s earnings. The lowest sales estimate is $2.85 billion and the highest is $3.12 billion. Canadian National Railway posted sales of $2.82 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The firm is expected to issue its next quarterly earnings results after the market closes on Tuesday, October 22nd.

On average, analysts expect that Canadian National Railway will report full year sales of $11.69 billion for the current fiscal year, with estimates ranging from $11.41 billion to $11.94 billion. For the next year, analysts anticipate that the company will report sales of $12.40 billion, with estimates ranging from $11.87 billion to $12.79 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Canadian National Railway.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.47. Canadian National Railway had a net margin of 29.50% and a return on equity of 24.15%. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. Canadian National Railway’s quarterly revenue was up 9.0% on a year-over-year basis.

Several equities analysts recently issued reports on CNI shares. Raymond James cut shares of Canadian National Railway from an “outperform” rating to a “hold” rating in a research report on Friday, September 13th. Royal Bank of Canada set a $137.00 price target on shares of Canadian National Railway and gave the company a “hold” rating in a research report on Friday, September 13th. Credit Suisse Group boosted their price target on shares of Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Goldman Sachs Group started coverage on shares of Canadian National Railway in a research report on Wednesday, July 10th. They set a “neutral” rating and a $97.00 price target on the stock. Finally, Stephens cut shares of Canadian National Railway from an “overweight” rating to an “equal” rating and reduced their price target for the company from $100.00 to $97.00 in a research report on Tuesday, October 1st. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Canadian National Railway has an average rating of “Hold” and a consensus target price of $101.86.

Shares of NYSE CNI traded up $1.48 during midday trading on Friday, hitting $86.95. 77,168 shares of the company traded hands, compared to its average volume of 897,092. Canadian National Railway has a 12-month low of $70.36 and a 12-month high of $96.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 0.69. The stock has a 50-day moving average price of $89.91 and a 200 day moving average price of $91.66. The firm has a market cap of $60.38 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.70 and a beta of 1.01.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a dividend of $0.411 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.64 annualized dividend and a yield of 1.89%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.40. Canadian National Railway’s payout ratio is presently 39.18%.

Large investors have recently bought and sold shares of the stock. Atwater Malick LLC boosted its stake in Canadian National Railway by 0.5% during the second quarter. Atwater Malick LLC now owns 50,069 shares of the transportation company’s stock worth $4,630,000 after acquiring an additional 249 shares in the last quarter. Cidel Asset Management Inc. lifted its stake in shares of Canadian National Railway by 0.4% in the second quarter. Cidel Asset Management Inc. now owns 844,210 shares of the transportation company’s stock worth $78,300,000 after buying an additional 3,310 shares in the last quarter. Capital Bank & Trust Co lifted its stake in shares of Canadian National Railway by 3.7% in the second quarter. Capital Bank & Trust Co now owns 108,414 shares of the transportation company’s stock worth $9,979,000 after buying an additional 3,880 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Canadian National Railway by 26.4% in the second quarter. Schroder Investment Management Group now owns 922,553 shares of the transportation company’s stock worth $111,814,000 after buying an additional 192,482 shares in the last quarter. Finally, AMP Capital Investors Ltd lifted its stake in shares of Canadian National Railway by 2.7% in the second quarter. AMP Capital Investors Ltd now owns 445,226 shares of the transportation company’s stock worth $40,872,000 after buying an additional 11,663 shares in the last quarter. 53.09% of the stock is currently owned by institutional investors and hedge funds.

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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