Canadian National Railway (TSE:CNR) (NYSE:CNI) – Desjardins reduced their Q4 2017 earnings estimates for Canadian National Railway in a research report issued to clients and investors on Monday. Desjardins analyst B. Poirier now expects that the company will earn $1.24 per share for the quarter, down from their previous forecast of $1.27. Desjardins has a “Buy” rating on the stock.
Other research analysts also recently issued research reports about the stock. J P Morgan Chase & Co cut their price target on shares of Canadian National Railway from C$105.00 to C$104.00 in a report on Wednesday, October 25th. CIBC lowered their target price on shares of Canadian National Railway from C$111.00 to C$110.00 in a research note on Tuesday, September 26th. National Bank Financial lowered their target price on shares of Canadian National Railway from C$108.00 to C$105.00 in a research note on Wednesday, September 13th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and raised their target price for the company from C$110.00 to C$115.00 in a research note on Thursday, November 30th. Finally, Raymond James Financial lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and set a C$115.00 target price on the stock. in a research note on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of C$108.60.
In related news, insider Sean Finn sold 11,168 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of C$100.75, for a total transaction of C$1,125,176.00. Also, insider Jean-Jacques Ruest sold 31,464 shares of the business’s stock in a transaction that occurred 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.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, December 7th. Canadian National Railway’s dividend payout ratio is presently 31.56%.
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Canadian National Railway Company Profile
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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