Canadian National Railway (NYSE:CNI) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Canadian National Railway (NYSE:CNI) (TSE:CNR) posted its quarterly earnings data on Tuesday. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09), Briefing.com reports. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.32% and a net margin of 32.00%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share.

Canadian National Railway Price Performance

Shares of NYSE:CNI traded down $2.38 during trading on Thursday, hitting $113.42. 2,027,000 shares of the company were exchanged, compared to its average volume of 1,085,426. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $71.73 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The business’s 50 day moving average is $121.78 and its 200-day moving average is $125.63.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.614 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.17%. Canadian National Railway’s dividend payout ratio is currently 39.55%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. StockNews.com lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $146.25 to $130.67 in a report on Monday, July 8th. Finally, Susquehanna dropped their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday. Eighteen research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $146.08.

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.