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


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Equities research analysts expect that Canadian National Railway (NYSE:CNI) (TSE:CNR) will post sales of $2.98 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Canadian National Railway’s earnings, with the highest sales estimate coming in at $3.04 billion and the lowest estimate coming in at $2.96 billion. Canadian National Railway posted sales of $2.32 billion during the same quarter last year, which would indicate a positive year over year growth rate of 28.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, July 20th.

On average, analysts expect that Canadian National Railway will report full-year sales of $11.94 billion for the current financial year, with estimates ranging from $11.79 billion to $12.09 billion. For the next financial year, analysts forecast that the business will post sales of $12.79 billion, with estimates ranging from $12.65 billion to $13.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Canadian National Railway.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Sunday, April 25th. The transportation company reported $1.23 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.01). The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.57 billion. Canadian National Railway had a return on equity of 19.55% and a net margin of 24.90%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share.

A number of equities analysts recently commented on CNI shares. Smith Barney Citigroup lifted their price target on Canadian National Railway from $110.00 to $127.00 in a research note on Monday, January 11th. TD Securities decreased their price target on Canadian National Railway from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 27th. Wells Fargo & Company lifted their price target on Canadian National Railway from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 27th. Royal Bank of Canada cut their target price on shares of Canadian National Railway from $155.00 to $139.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 27th. Finally, CIBC cut their target price on shares of Canadian National Railway from $148.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, April 27th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $128.94.

Several hedge funds and other institutional investors have recently bought and sold shares of CNI. Norges Bank acquired a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $790,551,000. Bank of New York Mellon Corp increased its stake in shares of Canadian National Railway by 134.6% during the fourth quarter. Bank of New York Mellon Corp now owns 9,054,282 shares of the transportation company’s stock valued at $994,611,000 after acquiring an additional 5,195,624 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Canadian National Railway by 1,248.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,000,000 shares of the transportation company’s stock valued at $109,843,000 after acquiring an additional 925,820 shares during the period. Maj Invest Holding A S increased its stake in shares of Canadian National Railway by 45.3% during the fourth quarter. Maj Invest Holding A S now owns 1,833,264 shares of the transportation company’s stock valued at $201,358,000 after acquiring an additional 571,356 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $54,001,000. Institutional investors and hedge funds own 54.23% of the company’s stock.

NYSE:CNI traded down $0.40 during mid-day trading on Thursday, reaching $108.71. The stock had a trading volume of 751,035 shares, compared to its average volume of 1,077,128. The company has a market capitalization of $77.17 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83. Canadian National Railway has a 1-year low of $77.20 and a 1-year high of $119.61. The stock’s 50 day simple moving average is $114.89 and its two-hundred day simple moving average is $110.29. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.85.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 9th will be issued a dividend of $0.4964 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Tuesday, June 8th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.48. Canadian National Railway’s payout ratio is 41.00%.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its 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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Earnings History and Estimates for Canadian National Railway (NYSE:CNI)

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