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

Canadian National Railway (NYSE:CNI) (TSE:CNR) declared a dividend on Tuesday, June 3rd, investing.com reports. Investors of record on Tuesday, June 10th will be given a dividend of 0.8875 per share by the transportation company on Monday, June 30th. This represents a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, June 9th. This is a 208.2% increase from Canadian National Railway’s previous dividend of $0.29.

Canadian National Railway has raised its dividend by an average of 10.9% per year 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 41.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Canadian National Railway to earn $6.21 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 41.5%.

Canadian National Railway Stock Up 0.3%

Shares of Canadian National Railway stock opened at $106.18 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm has a market cap of $66.74 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.95 and a beta of 0.98. Canadian National Railway has a fifty-two week low of $91.65 and a fifty-two week high of $126.78. The business has a 50-day moving average price of $100.82 and a 200 day moving average price of $102.16.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. On average, sell-side analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CNI shares. Stephens boosted their price target on Canadian National Railway from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Evercore ISI dropped their target price on Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Stifel Nicolaus decreased their target price on Canadian National Railway from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Susquehanna raised Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 target price for the company in a report on Tuesday, May 6th. Finally, Raymond James lowered Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average price target of $119.52.

Institutional Trading of Canadian National Railway

A hedge fund recently raised its stake in Canadian National Railway stock. Focus Partners Wealth grew its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,514 shares of the transportation company’s stock after purchasing an additional 1,146 shares during the period. Focus Partners Wealth’s holdings in Canadian National Railway were worth $1,122,000 at the end of the most recent quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.