Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) announced a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Stockholders 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 dividend 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 payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.1 %
NYSE CNI traded down $0.10 during mid-day trading on Wednesday, hitting $112.14. The company’s stock had a trading volume of 1,930,609 shares, compared to its average volume of 1,107,582. The firm has a market capitalization of $70.92 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.53 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock’s fifty day simple moving average is $116.00 and its two-hundred day simple moving average is $119.78.
Analyst Ratings Changes
A number of research analysts have commented on CNI shares. Stifel Nicolaus boosted their price objective on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a research report on Monday, October 7th. Sanford C. Bernstein lowered their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Barclays boosted their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $125.10.
Get Our Latest Analysis on Canadian National Railway
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.
Featured Stories
- Five stocks we like better than Canadian National Railway
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- What is the Dogs of the Dow Strategy? Overview and Examples
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.