CNI - Canadian National Railway Company

NYSE - NYSE Delayed Price. Currency in USD
91.88
-1.73 (-1.85%)
At close: 4:02PM EST
Stock chart is not supported by your current browser
Previous Close93.61
Open90.50
Bid90.67 x 800
Ask93.18 x 900
Day's Range90.50 - 92.65
52 Week Range83.74 - 96.53
Volume1,196,192
Avg. Volume814,768
Market Cap65.14B
Beta (5Y Monthly)0.94
PE Ratio (TTM)15.64
EPS (TTM)5.87
Earnings DateN/A
Forward Dividend & Yield1.74 (1.86%)
Ex-Dividend DateMar 08, 2020
1y Target Est128.56
  • Benzinga

    Canadian National "Pleased" As Rail Blockade Ends

    Canadian National (NYSE: CNI) expressed relief Monday that a rail blockade that had prevented freight trains from moving between Toronto and Montreal is over. Protesters began blocking portions of the freight rail network after Feb. 6 in support of a First Nations group's objections to a proposed pipeline location in British Columbia. A blockade in Mohawk territory near Belleville, Ontario, began in solidarity with efforts by the hereditary leaders of the Wet'suwet'en First Nation in British Columbia to fight the proposed route of the Coastal Gaslink pipeline through their territory in British Columbia.

  • Reuters

    Canadian police move in to clear indigenous blockade of Ontario rail line

    Police moved in on Monday morning to clear a rail blockade by an indigenous group in eastern Canada that had been stopping freight and passenger traffic for more than two weeks on one of the country's busiest lines. Canadian National Railway Co obtained an injunction against those preventing rail traffic from moving along its trunk line near Belleville, Ontario, on Feb. 7, but provincial police had taken a cautious approach until now. Dozens of Ontario Provincial Police descended on the site of the rail blockade a little after 8 a.m. ET.

  • Bloomberg

    Trudeau Abandons Talks, Says Blockades ‘Must Now Come Down’

    (Bloomberg) -- Prime Minister Justin Trudeau acknowledged his government’s efforts to negotiate a solution to rail blockades across the country have failed and signaled he would be open to police intervention.Efforts by his ministers to reach out have not been productive and he has “no choice” but to stop making overtures and call for the barricades to come down, Trudeau said at a press conference Friday in Ottawa.“We cannot continue to watch Canadians suffer shortages and layoffs,” the prime minister told reporters, adding that the responsibility to enforce court orders lies with provincial police forces. “The barricades must now come down,” he said.The comments represent a dramatic turn of events in the third week of blockades that have crippled the nation’s rail network, shutting down freight traffic in eastern Canada and bringing a halt to most intercity passenger service. As recently as yesterday, Trudeau’s government had emphasized the need to engage with protesters and indigenous groups in the hopes of a reaching a peaceful resolution to the crisis.Environmental and indigenous-rights activists have obstructed rail lines in several provinces, protesting the construction of TC Energy Corp.’s planned C$6.6 billion ($5 billion) Coastal GasLink project. The pipeline would ship natural gas to an LNG export facility under construction on the coast of British Columbia that is backed by Royal Dutch Shell Plc, PetroChina Co. and three other partners.Nation to NationWet’suwet’en hereditary chiefs are standing firm in their demands that the RCMP depart from their traditional lands, and that all construction on the Coastal GasLink project stop before “nation to nation” dialog can begin between the indigenous group and the governments of British Columbia and Canada.The territory “was never ceded or surrendered, and as such, Canada’s actions amount to an illegal occupation,” Hereditary Chief Woos told reporters in Tyendinaga, Ontario, where he and other leaders met with Mohawk supporters. He said the chiefs have put a “path of peace forward, in order that nation to nation discussion with Canada and B.C. may occur freely and without duress.”Trains would be allowed to pass through the territory once the RCMP leave, Woos said. Once that happens, the chiefs would be open to meeting with Trudeau or his ministers, Woos said.The Coastal GasLink project has broad support from some indigenous communities along the route, and the Wet’suwet’en themselves are divided about it. While Canadian National Railway Co. has been successful in obtaining injunctions to dismantle blockades, it still had to cancel 400 trains last week and shut down its eastern Canada operations.Quebec Premier Francois Legault estimated that the rail blockades are causing losses of about C$100 million ($76 million) a day for his province. CN and some manufacturers have started temporary layoffs, while the Montreal port is facing some congestion, he said. Shipments of everything from agricultural products to fertilizer and oil have also been disrupted across the country. Some economists have estimated the disruptions will reduce annualized growth in the first quarter by as much as 0.3 percentage points.The disruptions have gone on too long and are beginning to have widespread economic impacts, Trudeau said.“The onus has shifted to indigenous leadership.” he said, adding the military won’t get involved and he can’t order police to remove the barriers. Friday’s statement effectively represents a green light for the police to advance on the barricades, should they choose to do so.(Updates with comments from hereditary chiefs from sixth paragraph.)To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.netTo contact the editors responsible for this story: Derek Decloet at ddecloet@bloomberg.net, Chris Fournier, Stephen WicaryFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    As Canadian rail blockade drags on, police use caution due to legacy of past violence

    As a blockade of Canada's rail lines drags on and the economic impact deepens, police aware of the bitter legacy created by past fatal clashes with indigenous protesters have chosen not to clear the tracks by force. For the past two weeks, campaigners blocked rail lines in Ontario, Quebec and Alberta in solidarity with a British Columbia (B.C.) aboriginal band that had stopped construction of a gas pipeline over its land. The cautious approach follows raids and arrests against the B.C. Wet'suwet'en band earlier this month that triggered the ongoing protest.

  • Reuters

    Canada's indigenous lead climate charge with rail blockade, put Trudeau in a bind

    Canadian indigenous groups are leading the charge against fossil-fuel development in a country with the world's third-largest proven oil reserves, using rail blockades as leverage and putting Prime Minister Justin Trudeau in a bind. Members of the Wet'suwet'en Nation in British Columbia have been fighting the construction of TC Energy Corp's planned Coastal GasLink pipeline for a decade, but now savvy social media use and years of outreach have drawn allies. For almost two weeks, protesters across the country have taken up their cause, bringing freight and passenger traffic to a standstill in parts of Canada.

  • Benzinga

    Canada's Supply Chain And Leaders Grapple With Rail Blockades

    Protesters' efforts to block freight rail traffic in Canada in support of a First Nations group's objections over a proposed natural gas pipeline have caused ripples throughout the Commonwealth's supply chain, including temporary layoffs at Canadian National (NYSE: CNI) and increased congestion at some ports. Canadian National (CN) confirmed Tuesday that it has sent temporary layoff notices to about 450 employees affiliated with its eastern operations. CN shut down its eastern operations last week amid a rail blockade in Belleville, Ontario.

  • Reuters

    Canada protesters mount fresh rail blockade, PM Trudeau says disruptions unacceptable

    Demonstrators opposed to a Canadian energy project on Wednesday started blocking a western rail line, adding to pressure on Prime Minister Justin Trudeau to solve a two-week protest that is harming the economy. Freight traffic in eastern Canada has been stopped after campaigners blockaded a main line in Ontario. Trudeau, who insists his government will not use force against the protesters, toughened his language on Wednesday, calling the disruptions unacceptable.

  • Bloomberg

    Trudeau Pleads for Patience Amid Crippling Rail Blockades

    (Bloomberg) -- Prime Minister Justin Trudeau called for patience and dialog as indigenous-rights protests that have brought rail traffic to a halt across Canada drag on.Blockades in British Columbia, where some hereditary chiefs oppose a new natural gas pipeline by TC Energy Corp., and solidarity protests along the key Montreal-to-Toronto corridor in Ontario forced Canadian National Railway Co. to shut down a large part its network last week.The crisis has stalled the flow of goods -- including oil for export and propane needed for heating -- in the sprawling, trade-dependent nation and prompted Via Rail, Canada’s primary intercity passenger service, to cancel nearly all trains.“On all sides, people are upset and frustrated. I get it,” Trudeau told lawmakers Tuesday morning in Ottawa, where he’s facing calls to intervene in the dispute.“To the Wet’suwet’en and Mohawk nations, and indigenous leaders across the country: We are listening,” the prime minister said. “We are not asking that you stop standing up for your communities, your rights and for what you believe. We only ask that you be willing to work with the federal government as a partner in finding solutions.”Trudeau had planned to spend the first part of this week lobbying Caribbean leaders to back his bid for a seat on the United Nations Security Council. But he was forced to scrap that trip late Sunday and convene an emergency meeting of key ministers in Ottawa on Monday.His government has prioritized improving relations with First Nations, and is leery of actions that could spark a repeat of violent clashes between the authorities and indigenous communities in the past.“To those who would want us to act in haste, who want us to boil this down to slogans and ignore the complexities, who think that using force is helpful: It is not,” Trudeau said.Those comments appeared to be a response to Conservative Leader Andrew Scheer, who called last week for the prime minister to order the Royal Canadian Mounted Police to clear the protests.The opposition leader minced no words in his assessment of Trudeau’s remarks.“That was the weakest response to a national crisis in Canadian history,” Scheer said in the legislature, denouncing the prime minister’s speech as “word salad” in the place of a credible plan.(Updates with Trudeau’s remarks throughout.)To contact the reporter on this story: Stephen Wicary in Ottawa at swicary@bloomberg.netTo contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Chris FournierFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    Canada's Trudeau stresses the need for peaceful end to pipeline protests

    Canadian Prime Minister Justin Trudeau on Monday called for a peaceful solution to end rail blockades by indigenous rights groups protesting the construction of a natural gas pipeline. Indigenous communities across Canada have blocked key rail lines for nearly two weeks to oppose construction of the Coastal GasLink pipeline in British Columbia, which has forced Canada's biggest railroad, Canadian National Railway Co, to shut operations in eastern Canada.

  • Benzinga

    Canadian Ports Impacted By Pipeline Protesters Blocking Rail Lines

    The protests that have been blocking portions of the rail network in Canada are affecting port operations on both coasts. Protesters in support of a First Nations' group's objections to the location of a proposed pipeline in British Columbia have been blocking portions of Canada's rail network over the past week, causing Canadian National (NYSE: CNI)  to shut down its eastern operations and VIA Rail to cancel much of its passenger rail service.

  • Benzinga

    Transport Canada Ups Temporary Speed Limits For Crude Trains

    The Canadian government has revised its temporary restrictions on speed limits for freight trains carrying dangerous goods, allowing trains to move faster. The agency defines dangerous goods as commodities such as crude oil, liquefied petroleum gas, gasoline and ethanol. The revised speed restrictions, which were issued on Feb. 16 and will be in place until April 1, are in response to a fiery Feb. 6 derailment of a Canadian Pacific (NYSE: CP) train carrying crude oil.

  • Reuters

    Canada's Trudeau scraps Barbados trip to try to resolve anti-pipeline protests

    Canadian Prime Minister Justin Trudeau has canceled his planned trip to Barbados to help resolve widespread rail disruptions caused by indigenous rights activists opposing the construction of a natural gas pipeline, his office said on Sunday. Indigenous communities across Canada have been blocking some key railway lines for nearly two weeks in protest against the Coastal GasLink pipeline in British Columbia, which has forced Canada's biggest railroad, Canadian National Railway Co , to shut operations in eastern Canada.

  • GlobeNewswire

    CN Supportive of the Amendment to the Ministerial Order on Train Speed

    CN (CNR.TO) (CNI) is supportive of the decision by Canada’s Transport Minister to amend the Ministerial Order issued on February 7, 2020. “Safety is a core value at CN, and we are supportive of the Minister of Transportation’s decision,” said JJ Ruest, president and chief executive officer at CN.

  • GlobeNewswire

    New Illegal Blockades in Vaughan and Vancouver, CN Concerned About Safety

    CN (CNR.TO) (CNI) announced that there have been new blockades on its network today, one in Vancouver, B.C., and two in Vaughan, ON. CN has sought and obtained court orders and requested the assistance of enforcement agencies to end these illegal blockades. While both of the illegal blockades in Vaughan have ended and the other one in Vancouver may come to an end shortly, CN has deep concerns regarding the safety of its employees, the public, and the protestors.

  • Oilprice.com

    Canada Rocked By Anti-Pipeline Protests

    Protests against Canada’s new Coastal Gaslink Pipeline are spiraling out of control, forcing Canadian National Railway to suspend train services

  • Shopify’s Sweetheart Week Has It Encroaching on Market Stalwarts
    Bloomberg

    Shopify’s Sweetheart Week Has It Encroaching on Market Stalwarts

    (Bloomberg) -- Canada’s homegrown tech company Shopify Inc. is on a tear.After surging annually since its 2015 initial public offering, it has rallied 36% to a market value of almost C$82 billion ($62 billion) in 2020, making it the seventh largest company on the S&P/TSX Composite Index. That puts it about C$8 billion away from usurping Bank of Nova Scotia -- the fifth biggest company. Canadian National Railway Co. -- is No. 6 on the benchmark.Shopify’s value has climbed about C$7.9 billion just this week as fourth-quarter revenue topped analysts’ estimates and the provider of online shopping tools gave an optimistic forecast for the year.Shares of Shopify have skyrocketed to fresh records amid a dearth of quality tech companies on the S&P/TSX Composite Index. The benchmark tech gauge has a mere 10 members compared with over 71 on the S&P 500’s tech index, which includes FAANG giants such as Facebook Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc.Still, Shopify’s meteoric rise has some analysts calling for caution. Credit Suisse analyst Brad Zelnick downgraded the stock to the equivalent of a hold on its “lofty valuation” but raised his share price target for the U.S.-listed stock to $575 from $450. He did, however, contend that company has a “great business.” The stock is currently sitting at about $527.Markets -- Just The NumbersChart of The WeekPoliticsPrime Minister Justin Trudeau said the government will do everything it can to resolve protests that have crippled parts of the country’s railways, leading to disruptions in passenger travel and the shipment of key goods. RBC Capital Markets said the demonstrations are another reason the Bank of Canada will be “biased to ease.”Get the latest news on the pipeline protests hereThe coronavirus continues to spread within China. Finance Minister Bill Morneau said that the epidemic will take a “real” toll on Canada’s economy given it’s global knock-on effects. Reduced tourism from China and lower commodity prices will also impact Canada’s growth.EconomyA new survey showed that Canadians are growing increasingly confident of getting a job with better pay were they to leave their current workplace, another indication of the health of the nation’s labor market as the unemployment rate sits at historic lows and wages climb near the fastest pace since the recession.The housing market in major Canadian cities continued to tighten as home sales fell and prices rose in January. A combination of steady population growth, low unemployment and cheap borrowing costs have brought buyers into the market but shrinking supply is damping transactions and driving bids for homes higher in places like Toronto.Up next, economists will be watching manufacturing sales figures on Feb. 18, inflation data due Feb. 19 and retail sales expected on Feb. 21. The stock market is closed on Monday for a holiday in Ontario and some other provinces.TrendingInCanada1\. Former Mississauga Mayor Hazel McCallion, also known as “Hurricane Hazel” turned 99 with NHL’s Maple Leafs team celebrating her birthday. She was in office for 12 terms before stepping back in 2014.2\. An extreme cold warning alert was issued for the city of Toronto Friday as temperatures dip below 30 degrees Celsius (that’s -22 degrees Farenheit).\--With assistance from Shelly Hagan.To contact the reporter on this story: Divya Balji in Toronto at dbalji1@bloomberg.netTo contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, Jacqueline Thorpe, Danielle BochoveFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Indigenous Protests Cripple Parts of Canada’s Rail Network

    (Bloomberg) -- Prime Minister Justin Trudeau said the government will do everything it can to resolve protests that have crippled the country’s railways, leading to disruptions in passenger travel and the shipment of key goods.“We are a country that recognizes the right to protest but we are a country of the rule of law and we will ensure that everything is done to resolve this through dialog and constructive outcomes,” Trudeau said during a press conference in Munich.Environmental and indigenous-rights activists are blockading rail lines, ports and other infrastructure to show solidarity with portions of the Wet’suwet’en Nation that are protesting construction of TC Energy Corp.’s planned C$6.6 billion ($5 billion) Coastal GasLink pipeline through their territory in British Columbia.When asked whether the pipeline project will still proceed despite the protests, Trudeau emphasized that Canada has regulatory processes and a judicial system in place for the country to operate smoothly. “The responsibility of government, and of all levels of government, is to serve their citizens in the best way possible, and the legal framework we have built for our country is an important touch point for that,” he said. Key Developments:Canadian National Railway Co., the country’s biggest rail network, is shutting down operations in Eastern Canada, possibly leading to temporary layoffs.All Via Rail passenger traffic across the country has been haltedBusiness leaders increasingly frustratedRBC Capital Markets says protests another reason keeping Bank of Canada “biased to ease”West Coast ports “will take weeks” to resume service after supply-chain delays, the Chamber of Shipping says.Garneau Says ‘Concerned’ About Protests, Pledges Dialog (12:27 p.m.)Canadian Transport Minister Marc Garneau said while he’s “deeply concerned” about the impact of nationwide protests that are crippling the country’s railways, the government is intent on resolving the situation by engaging with First Nations.Environmental and indigenous-rights activists are blockading rail lines, ports and other infrastructure to show solidarity with portions of the Wet’suwet’en Nation that are protesting construction of TC Energy Corp.’s planned C$6.6 billion ($5 billion) Coastal GasLink pipeline through their territory in British Columbia.Federal Ministers to Meet with Indigenous Leaders (10:30, NY)Garneau said he’s encouraged by the removal of a blockade in British Columbia after the Canadian and provincial governments agreed to meet hereditary chiefs to discuss their grievance, allowing trains to begin running to the port of Prince Rupert.“Freedom of expression and peaceful protests are among the most fundamental rights of people in a democracy and must be respected and protected,” Garneau told reporters in Toronto. “However, I am deeply concerned by the demonstrations that are deliberately preventing the operation of our railways,” he said.Minister of Crown-Indigenous Relations Carolyn Bennett, will meet with protesters in British Columbia, while Minister of Indigenous Services Marc Miller will meet with groups that are running blockades in Ontario.Hard to Find Trucks to Replace Rail, Retailers Say (11:00 a.m., NY)The Retail Council of Canada says 20% of its members’ shipments go by intermodal transit. Walmart Inc. is the No. 3 customer of CN, according to data compiled by Bloomberg.“It’s not like somewhere in a subterranean garage there are thousands of additional trucks just waiting to be turned on to provide redundancy,” said Karl Littler, senior vice-president of public affairs at the council, which represents 45,000 storefronts. “Rail moves a lot of heavy volume, and it is already integrated with trucking.”The group recognizes the right to peaceful protest, but believes in the rule of law, Littler said. “When injunctions are issued they should be followed, and if they have to be they should be enforced by public authorities,” he said.Rail Disruption Another Factor Keeping BOC ‘Biased to Ease,’ RBC Says (8:05 a.m. NY)RBC Capital Markets called the CN shutdown another “transitory” impediment to growth.“Alongside possible virus-related distortions, it is becoming harder for the Bank of Canada to disentangle exactly what factors are contributing to expected below-potential growth,” Mark Chandler, and Simon Deeley, rates strategists at the Royal Bank of Canada unit.That “below-potential growth” still seems likely for both the fourth quarter and first quarter and, at the margin, “it should help to keep the central bank biased to ease,” they added.Resumption of Service ‘Will Take Weeks’ at West Coast Ports (3:25 a.m. NY)Supply Chain disruption is leading to congestion at Vancouver and Prince Rupert Ports from stranded imports and diminished capacity to service export cargoes, according to the Chamber of Shipping.In 2018, Canada’s ports moved over 342 million metric tonnes of cargo.“This action is harming the reputation of Canadian ports and the Canadian supply chain,” Robert Lewis-Manning, president of the Chamber said in a statement. “Even a resumption of service at this stage will take weeks to resolve and impacts the markets that Canadian shippers serve.”The Chamber of Shipping represents commercial carriers and their agents which trade internationally and domestically.\--With assistance from Divya Balji.To contact the reporters on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net;Doug Alexander in Toronto at dalexander3@bloomberg.net;Shelly Hagan in ottawa at shagan9@bloomberg.netTo contact the editors responsible for this story: Derek Decloet at ddecloet@bloomberg.net, Jacqueline Thorpe, Chris FournierFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Benzinga

    CN Moves To Shut Down Eastern Canada Rail Network Amid Blockades

    Canadian National (NYSE: CNI) began shutting down its Eastern Canada rail network Thursday and plans to halt all transcontinental service in response to ongoing disruptions by anti-pipeline protesters that have increasingly strained the country's supply chains. CN said it is initiating a "disciplined and progressive shutdown" of the eastern rail network after canceling more than 400 trains during the past week amid blockades in Ontario, Manitoba and British Columbia in support of a First Nations group's opposition to a proposed pipeline route.