Canadian National Railway (CNI) To Go Ex-Dividend on December 9th

Canadian National Railway (NYSE:CNI) (TSE:CNR) announced a quarterly dividend on Tuesday, October 22nd,Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.6108 per share by the transportation company on Monday, December 30th. This represents a $2.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, December 9th.

Canadian National Railway has increased its dividend by an average of 21.4% per year over the last three years. Canadian National Railway has a payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian National Railway to earn $5.96 per share next year, which means the company should continue to be able to cover its $2.41 annual dividend with an expected future payout ratio of 40.4%.

Canadian National Railway Trading Down 2.1 %

CNI opened at $106.97 on Friday. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.56 and a beta of 0.89. Canadian National Railway has a one year low of $105.28 and a one year high of $134.02. The business has a 50 day simple moving average of $111.83 and a two-hundred day simple moving average of $116.24. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. Analysts predict that Canadian National Railway will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein decreased their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price target for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Evercore ISI decreased their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group dropped their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $125.86.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.