Canadian National Railway (NYSE:CNI) Announces Earnings Results, Beats Expectations By $0.02 EPS

Canadian National Railway (NYSE:CNI) (TSE:CNR) announced its earnings results on Tuesday. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02, Briefing.com reports. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share.

Canadian National Railway Price Performance

Shares of CNI stock opened at $111.37 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The firm has a market cap of $70.14 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.50 and a beta of 0.88. The business’s 50 day moving average price is $116.02 and its 200-day moving average price is $119.72. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Analyst Ratings Changes

Several brokerages recently issued reports on CNI. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus increased their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Citigroup upped their target price on Canadian National Railway from $125.00 to $126.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Susquehanna decreased their price target on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $125.18.

About Canadian National Railway

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.