Q4 2017 Earnings Forecast for Canadian National Railway (CNR) Issued By National Bank Financial
Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities research analysts at National Bank Financial lowered their Q4 2017 earnings estimates for Canadian National Railway in a research report issued to clients and investors on Tuesday. National Bank Financial analyst C. Doerksen now expects that the company will earn $1.22 per share for the quarter, down from their prior forecast of $1.29. National Bank Financial has a “Sector Perform” rating and a $108.00 price objective on the stock. National Bank Financial also issued estimates for Canadian National Railway’s Q1 2018 earnings at $1.24 EPS, Q3 2018 earnings at $1.40 EPS and Q4 2018 earnings at $1.43 EPS.
Several other research firms have also weighed in on CNR. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and increased their target price for the stock from C$110.00 to C$115.00 in a report on Thursday, November 30th. Scotiabank reiterated an “outperform” rating and issued a C$115.00 target price 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 report on Friday, September 8th. J P Morgan Chase & Co cut their target price on shares of Canadian National Railway from C$105.00 to C$104.00 in a report on Wednesday, October 25th. Finally, Desjardins upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of C$108.60.
In related news, insider Jean-Jacques Ruest sold 31,464 shares of the firm’s stock in a transaction on 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. Also, insider Sean Finn sold 11,168 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of C$100.75, for a total transaction of C$1,125,176.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $0.4125 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.60%. Canadian National Railway’s payout ratio is 31.56%.
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About Canadian National Railway
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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