Equities research analysts forecast that Canadian National Railway (NYSE:CNI) (TSE:CNR) will announce sales of $3.01 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Canadian National Railway’s earnings, with the highest sales estimate coming in at $3.12 billion and the lowest estimate coming in at $2.91 billion. Canadian National Railway reported sales of $2.82 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Canadian National Railway will report full-year sales of $11.78 billion for the current fiscal year, with estimates ranging from $11.61 billion to $11.94 billion. For the next financial year, analysts anticipate that the firm will post sales of $12.52 billion, with estimates ranging from $12.26 billion to $12.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.47. Canadian National Railway had a return on equity of 24.15% and a net margin of 29.50%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the firm posted $1.51 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis.

CNI has been the topic of a number of recent analyst reports. Goldman Sachs Group initiated coverage on Canadian National Railway in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $97.00 price objective on the stock. ValuEngine lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada set a $137.00 price objective on Canadian National Railway and gave the stock a “hold” rating in a research note on Friday, September 13th. Raymond James lowered Canadian National Railway from an “outperform” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Credit Suisse Group lifted their price objective on Canadian National Railway from $101.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $102.53.

Shares of Canadian National Railway stock traded down $0.57 during midday trading on Wednesday, reaching $90.83. The company had a trading volume of 557,437 shares, compared to its average volume of 867,381. The stock has a fifty day moving average price of $92.30 and a 200 day moving average price of $91.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.69 and a quick ratio of 0.54. The firm has a market cap of $66.38 billion, a PE ratio of 21.83, a P/E/G ratio of 1.42 and a beta of 1.01. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $96.49.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.411 dividend. The ex-dividend date of this dividend is Friday, September 6th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 1.81%. Canadian National Railway’s payout ratio is 39.18%.

A number of institutional investors and hedge funds have recently modified their holdings of CNI. Prime Capital Investment Advisors LLC acquired a new position in Canadian National Railway in the second quarter valued at approximately $34,000. Tortoise Investment Management LLC bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $36,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Canadian National Railway by 1,676.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 5,366 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 5,064 shares in the last quarter. CWM LLC increased its holdings in shares of Canadian National Railway by 96.0% during the second quarter. CWM LLC now owns 437 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $41,000. 53.09% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Company Profile

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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