Canadian National Railway (NYSE:CNI) Announces $0.63 Quarterly Dividend

Canadian National Railway (NYSE:CNI) (TSE:CNR) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, June 7th will be paid a dividend of 0.625 per share by the transportation company on Friday, June 28th. This represents a $2.50 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 7th.

Canadian National Railway has raised its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Canadian National Railway has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Canadian National Railway to earn $6.63 per share next year, which means the company should continue to be able to cover its $2.49 annual dividend with an expected future payout ratio of 37.6%.

Canadian National Railway Trading Up 1.0 %

Shares of CNI traded up $1.26 during trading hours on Thursday, reaching $124.12. 254,609 shares of the company traded hands, compared to its average volume of 1,008,851. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $129.68 and its two-hundred day moving average price is $122.20. The company has a market capitalization of $79.27 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.17%. Equities research analysts predict that Canadian National Railway will post 5.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CNI shares. Citigroup increased their target price on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Barclays raised their price target on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Wells Fargo & Company lifted their price target on shares of Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Jefferies Financial Group began coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 target price on the stock. Finally, Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Wednesday. Eighteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of “Hold” and a consensus price target of $147.86.

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.