Canadian Pacific Railway Ltd (TSX:CP) says it earned $390 million in its latest quarter, up from $371 million a year ago. On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of C$2.46 per share for the quarter.
Advertisement
Canadian National Railway Company (NYSE:CNI) is engaged in the rail and related transportation business. The highest target is $92.09 and the lowest is $50 according to Thomson/First Call.
Shares of Canadian National Railway Company (NYSE:CNI) appreciated by 4.21% during the past week but lost 1.16% on a 4-week basis.
Several analysts have recently commented on the stock.
The stock has a 50-day moving average of $59.01 and a 200-day moving average of $64.64. Analysts at Barclays lowered their price target on shares of Canadian National Railway from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Tuesday.
“While the downward guidance revision may be disappointing to some, a 20 percent earnings growth rate this year would still be a very solid achievement in the context of a challenging volume environment”, Cameron Doerksen, an analyst at National Bank Financial in Montreal, said in a note. Canadian National laid off 600 workers and has implemented a hiring freeze, the railroad said in a slide presentation.
The job losses were announced as the railway reported second-quarter results that saw its revenue tick lower to $1.65 billion compared with $1.68 billion in the same period past year. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Our stocks momentum model is shown on the price chart below. Year-to-Date the stock performance stands at -17.37%.
Advertisement
In terms of the surprise factor, the prior quarter expected EPS number by analysts was $1.77. In the last 50 and 100 days, Canadian National Railway is down 6.83% and down 13.24%, respectively. CNs network, and its co-production agreements, routing protocols, marketing alliances and interline agreements, provide CN customers access to all three North American Free Trade Agreement (NAFTA) nations. CN derives its freight revenue from seven commodity groups representing a portfolio of goods transported between a range of origins and destinations. CN – Canadian National Railway Company, along with its operating railway subsidiaries – serves the cities and ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn.
