Canadian National Railway (NYSE:CNI) Plans Quarterly Dividend of $0.61

Canadian National Railway (NYSE:CNI) (TSE:CNR) announced a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.6108 per share by the transportation company on Monday, December 30th. This represents a $2.44 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 9th.

Canadian National Railway has increased its dividend payment by an average of 21.4% annually over the last three years. Canadian National Railway has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Canadian National Railway to earn $6.25 per share next year, which means the company should continue to be able to cover its $2.51 annual dividend with an expected future payout ratio of 40.2%.

Canadian National Railway Price Performance

Shares of CNI opened at $111.99 on Thursday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The stock’s 50 day moving average is $116.02 and its two-hundred day moving average is $119.72. The firm has a market capitalization of $70.53 billion, a PE ratio of 17.95, a P/E/G ratio of 2.50 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts anticipate that Canadian National Railway will post 5.5 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CNI shares. The Goldman Sachs Group lowered their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Susquehanna lowered their price target on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Stephens restated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a report on Wednesday. Finally, Citigroup started coverage on Canadian National Railway in a report on Wednesday, October 9th. They issued a “neutral” rating and a $125.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.10.

Canadian National Railway Company Profile

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.