Canadian National Railway Company to Issue Quarterly Dividend of C$0.92 (NYSE:CNI)

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) announced a quarterly dividend on Friday, July 24th. Investors of record on Tuesday, September 8th will be paid a dividend of 0.915 per share by the transportation company on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 8th.

Canadian National Railway has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. Canadian National Railway has a payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Canadian National Railway to earn $6.31 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 42.3%.

Canadian National Railway Stock Performance

CNI traded down $1.05 during trading on Friday, hitting $129.53. The company’s stock had a trading volume of 2,686,320 shares, compared to its average volume of 1,608,590. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway has a one year low of $90.74 and a one year high of $131.55. The firm has a market cap of $78.50 billion, a PE ratio of 23.55, a P/E/G ratio of 2.44 and a beta of 0.96. The business’s 50 day simple moving average is $119.80 and its 200-day simple moving average is $110.51.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, sell-side analysts predict that Canadian National Railway will post 5.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on CNI shares. Susquehanna restated a “neutral” rating and issued a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Citigroup lifted their target price on Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Barclays upped their price target on shares of Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Thursday, June 25th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.12.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.