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

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Tuesday, June 9th will be given a dividend of 0.915 per share by the transportation company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, June 9th.

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 dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian National Railway to earn $6.41 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 41.8%.

Canadian National Railway Stock Up 3.1%

NYSE:CNI traded up $3.36 during midday trading on Thursday, reaching $111.44. The company had a trading volume of 1,321,457 shares, compared to its average volume of 1,657,979. The firm has a market capitalization of $67.84 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.17 and a beta of 0.91. The stock’s fifty day simple moving average is $107.41 and its 200-day simple moving average is $101.25. Canadian National Railway has a 12-month low of $90.74 and a 12-month high of $115.80. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.Canadian National Railway’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 EPS. On average, sell-side analysts anticipate that Canadian National Railway will post 5.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on CNI shares. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Stephens reduced their price objective on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. Sanford C. Bernstein increased their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price of $121.94.

Canadian National Railway Company Profile

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.