CNR.TO - Canadian National Railway Company
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 117.64 |
| Open | 117.98 |
| Bid | 118.42 x N/A |
| Ask | 118.45 x N/A |
| Day's Range | 117.35 - 119.24 |
| 52 Week Range | 92.01 - 127.79 |
| Volume | 729,827 |
| Avg. Volume | 1,737,589 |
| Market Cap | 84.055B |
| Beta (5Y Monthly) | 0.64 |
| PE Ratio (TTM) | 19.18 |
| EPS (TTM) | 6.18 |
| Earnings Date | Jul 21, 2020 |
| Forward Dividend & Yield | 2.30 (1.96%) |
| Ex-Dividend Date | Jun 08, 2020 |
| 1y Target Est | 119.89 |
Fair Value
Related Research
- Bloomberg
Rise in Rail Shipments A Sign of Rebound in Canada
(Bloomberg) -- One of Canada’s railways is seeing signs the economy is slowly bouncing back from the coronavirus pandemic.Volumes rose 4% at Canadian National Railway Co. in the last week of May as manufacturing and construction sectors reopened, said Chief Financial Officer Ghislain Houle. While the recovery is expected to be slow, it’s a positive sign after shipments hit bottom last month, he said.“I think we’re seeing the light at the end of the tunnel,” Houle said Tuesday at the UBS Global Industrials & Transportation virtual conference. “Hopefully, it will hold.”Rail volumes fell sharply during the height of the pandemic as manufacturers cut production amid shutdowns to contain the outbreak. CN laid off 4,000 employees and put 710 locomotives and 20,000 rail cars in storage in response to lower demand.Things started to pivot during the last week of May when lumber shipments rose 20% and automotive volumes climbed 60% from the previous week, Houle said. The railway is bullish on grain and coal shipments through the West Coast while crude and frack-sand shipments will probably remain under pressure amid low oil prices, he said.Pandemic Downturn Frees Up Rail Cars to End Canada Grain LogjamThe railway will be “patient” before returning locomotives, cars and crews back to its network. Volumes in June are expected to be “less worse” than May but still lower than a year ago, Houle said. The recovery will probably be gradual as social-distancing rules continue across parts of North America amid concerns there could be a second wave of the virus, he said.“It’s not all a rush at the gate,” Houle said. “It’s gradual.”(Corrects employee count in 4th paragraph)For 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.
- GlobeNewswire
CN Breaks Grain Record for Third Consecutive Month
CN (CNR.TO) (CNI) Announced today that it moved over 2.52 million metric tonnes (MMT) of western Canadian grain, ahead of the previous May record of 2.40 MMT set in 2014 and over 20% ahead of the three year average. When looking at Canada-wide performance, CN also set a record for May with over 2.60 MMT moved compared to the previous record of 2.52 MMT set in 2014.
- Zacks
The Zacks Analyst Blog Highlights: T-Mobile US, Citigroup, Blackstone Group, Regeneron Pharmaceuticals and Canadian National Railway
The Zacks Analyst Blog Highlights: T-Mobile US, Citigroup, Blackstone Group, Regeneron Pharmaceuticals and Canadian National Railway
- GlobeNewswire
Ghislain Houle, CN Executive Vice-President and Chief Financial Officer, to Participate in Two Virtual Investor Conferences on June 2 and 9
MONTREAL, May 29, 2020 -- Ghislain Houle, Executive Vice-President and Chief Financial Officer of CN (TSX: CNR) (NYSE: CNI), will participate in two virtual investor.
- Zacks
CN (CNI) Up 3.5% Since Last Earnings Report: Can It Continue?
CN (CNI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Zacks
Canadian National to Expand Intermodal Service Offering
Canadian National's (CNI) new intermodal rail service between Moncton and Halifax is expected to aid growth in the Atlantic region.
- GlobeNewswire
CN Announces New Intermodal Rail Service Between Moncton and Halifax
Railway Aims to Encourage Efficiency Within Supply Chains MONTREAL, May 22, 2020 -- CN (TSX: CNR) (NYSE: CNI) announced today that, in collaboration with the Halifax Port.
- GlobeNewswire
JJ Ruest, CN President and Chief Executive Officer, and Ghislain Houle, Executive Vice-President and Chief Financial Officer to address Bernstein’s 36th Annual Strategic Decisions Conference on May 28
MONTREAL, May 21, 2020 -- JJ Ruest, President and Chief Executive Officer and Ghislain Houle, Executive Vice-President and Chief Financial Officer of CN (TSX: CNR) (NYSE: CNI),.
- GlobeNewswire
Railway Association of Canada Appoints CN’s Fiona Murray as Board Chair
CN (CNR.TO) (CNI) is pleased to announce that that the Board of Directors of the Railway Association of Canada (RAC) elected CN’s Fiona Murray, vice-president of Public and Government Affairs at CN, as Chairperson. “Fiona is a very effective and strong leader as well as an extremely capable railroader” said JJ Ruest, president and chief executive officer of CN.
- GlobeNewswire
Ghislain Houle, CN executive vice-president and chief financial officer, to address the Wolfe Research Transportation & Industrial Conference on May 20
MONTREAL, May 14, 2020 -- Ghislain Houle, executive vice-president and chief financial officer of CN (TSX: CNR) (NYSE: CNI), will address the Wolfe Research Transportation.
- GlobeNewswire
JJ Ruest to Participate in Two Virtual Investor Conferences on May 12 and 13
MONTREAL, May 06, 2020 -- JJ Ruest, President and Chief Executive Officer of CN (TSX: CNR) (NYSE: CNI), will participate in two virtual investor conferences in May: BofA.
- GlobeNewswire
CN Proud to be Supporting Agri-Food Supply Chain as Company Sets New Grain Records
MONTREAL, May 05, 2020 -- CN (TSX: CNR) (NYSE: CNI) announced that, after having its second best Q1 western Canadian grain movement result with 6.59 million metric tonnes (MMT).
- Thomson Reuters StreetEvents
Edited Transcript of CNR.TO earnings conference call or presentation 27-Apr-20 8:30pm GMT
Q1 2020 Canadian National Railway Co Earnings Call
- Insider Monkey
Were Hedge Funds Right About Canadian National Railway (CNI)?
Will the new coronavirus cause a recession in US in the next 6 months? On February 27th, we put the probability at 75% and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to […]
- GlobeNewswire
CN announces election of directors
MONTREAL, April 29, 2020 -- CN (TSX: CNR) (NYSE: CNI) announced today that the director nominees listed in the management information circular dated March 10, 2020, were.
- GlobeNewswire
CN announces US$600-million debt offering
MONTREAL, April 29, 2020 -- CN (TSX: CNR) (NYSE: CNI) today announced a public debt offering of US$600 million 2.450% Notes due 2050. CN expects to close the offering on May.
- Benzinga
Canadian National Anticipates A Rough May
The worst of the COVID-19 pandemic's effect on freight rail activity is yet to come, said executives during Canadian National Railway Company (NYSE: CNI) first-quarter earnings call on April 27."We still feel that the worst is not behind us," said Canadian National (CN) Chief Financial Officer Ghislain Houle. Both he and CN CEO JJ Ruest said May could be the worst month, but "at this point, it's all guessing work."Executives have been looking at various economic recovery scenarios, but it's still unknown when North America would return to a "natural economy," which is when consumers feel confident to engage in pre-pandemic activity in such a way that would boost freight volumes. As a result, CN's expectations of generating C$2.5 billion in cash flow assumes worst-case scenarios to occur during the year. April revenue ton miles are down roughly 15% so far, Houle said."We've run scenarios that are better but we wanted to offer investors the floor," Houle said. Sectors that appear to be hit hard by the pandemic are the auto sector, where volumes are down by almost 90%, and U.S. coal volumes. Energy and frac sand volumes could also "get worse" according to Ruest, although CN's crude-by-rail product is mainly a type of heavy crude that is more shielded from crude market shifts.To manage the volume downturn so far, CN has furloughed about 2,500 workers, including a 20+% reduction of train and engine employees, and it reduced train starts and stored 500 locomotives and about 14,000 railcars in storage. Train and engine employee headcount tends to be more sensitive to market demand. CN has also idled switching yards in Battle Creek, Michigan; Jackson, Mississippi; Garneau, Quebec; and Kamloops, British Columbia, and it has reduced its mechanical activities in more than 20 locations. Whether the idled switching yards will return to service and when they would reopen will depend on when and how rail volume comes back, according to Rob Reilly, CN chief operating officer. CN has been in discussion with its ocean partners and shippers to gauge how cancelled or blank sailings in the second and third quarters will affect rail volumes. The railway won't be as affected by blank sailings in the second quarter, but another factor is also the number of discharges off the vessel that also occur, according to Keith Reardon, CN senior vice president of the consumer product supply chain.View more earnings on CNI"At this point in time, we're not seeing that many blanks...for the second quarter for us. That doesn't mean that there are not that many blanks that are going to happen, but after talking to our customers, that's what we're seeing is going to be impacting us for the West Coast," Reardon said. "We do see a few East Coast blanks, but I also want to caution you it's not necessarily the number of blanks. It's how much those blanks are affecting...[the] discharges on that vessel."Amid the pandemic-induced rail downturn, CN is performing track maintenance, which the railway says will help the company with network capacity once volume rebounds, and it is continuing to invest in capital projects, such as at Vancouver and between Edmonton and Prince Rupert, because of anticipated activity for trans-Pacific trade for bulk and container volumes.Although some nearshoring could occur because of higher labor costs in China and a desire to diversify the supply chain, the nearshoring opportunities for now are around essential goods, such as medical supplies. Goods that pass through the Canadian ports, such as automotive products, electronics and garments aren't as "strategic" and security-sensitive, Reardon said. But he added that CN has service at Mobile, Alabama, and New Orleans, Louisiana, should some nearshoring opportunities occur. First-quarter performanceIn the first quarter, CN increased its train velocity by over 6% while reducing its dwell time by nearly 5%. This allowed the railway to use fewer locomotives on its network while still moving the same amount of gross ton miles, Cairns said. It also removed 700 weekly train starts, and it has stored railcars and locomotives in locations where they would be needed once demand rebounds. Canadian National ($ in Canadian dollars) 2020 Value 2019 Value Y/Y Gross Change Y/Y % Change Freight revenue (in millions) $3,424.0 $3,413.0 $11.0 0.3% Carloads (000s) 1,335 1,418 -83.00 -5.9% Revenue per carload $2,565 $2,407 $158.00 6.6% Intermodal shipments (000s) 548 624 -76.00 -12.2% Intermodal revenue per carload $1,549 $1,362 $187.0 13.7% Revenue ton miles (in millions) $58,370 $59,067 ($697.0) -1.2% Employee counts (quarterly average) 25264 26024 -760.00 -2.9% Train velocity (mph) 18.2 17.1 1.10 6.4% Dwell time (hours) 8.3 8.7 -0.40 -4.6% OR% 65.7% 69.5% -3.80% -5.5% EPS $1.42 $1.08 $0.3 31.5% Despite the rail blockades and the COVID-19 pandemic, CN reported higher net profits in the first quarter of 2020.First-quarter net income totaled C$1 billion, or C$1.42 per diluted share, a 28.6% increase from C$786 million, or C$1.08 per diluted share, in the first quarter of 2019.For more first-quarter results, go here. See more from Benzinga * Broken Rail As Possible Cause To Canadian Crude Train Derailments * Today's Pickup: C.H. Robinson makes a ,000 donation to St. Christopher Truckers Relief Fund * Canadian National, Canadian Pacific Confident Of Their Post-Pandemic Response(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Motley Fool
Canadian National Railway Co (CNI) Q1 2020 Earnings Call Transcript
CNI earnings call for the period ending March 31, 2020.
- Reuters
CN Rail profit beats, pulls 2020 forecast on coronavirus hit
Canadian railroad operators have been getting a boost from shipping oil for producers looking for alternatives to congested pipelines. Canadian National said in January it expected crude shipments to be a growth driver this year. "Looking broadly at energy-related carloads, crude by rail was a significant growth driver, up 45% year-over-year for the quarter," Chief Executive Officer Jean-Jacques Ruest said on Monday.
- GlobeNewswire
CN Declares Second-Quarter 2020 Dividend
MONTREAL, April 27, 2020 -- CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a second-quarter 2020 dividend on the Company’s common shares.
- GlobeNewswire
CN Delivers Solid First Quarter Results Despite Network Disruptions
Railroad demonstrates resiliency with solid performance amidst month-long illegal blockades and impacts of the COVID-19 pandemic MONTREAL, April 27, 2020 -- CN (TSX: CNR).
- GlobeNewswire
CN to report first-quarter 2020 financial and operating results on April 27, 2020
MONTREAL, April 27, 2020 -- CN (TSX: CNR) (NYSE: CNI) will issue its first-quarter 2020 financial and operating results today April 27, 2020, at 4:01 p.m. Eastern Daylight Time.
- GlobeNewswire
CN Presents 2019 Safe Handling Award to 149 Shippers
CN (CNR.TO) (CNI) today announced the winners of its Safe Handling Award for 2019. It is in this spirit of keeping everyone safe and healthy that CN announces the winners of its Safe Handling Award for 2019. In all, 149 companies received the Safe Handling Award.
- Benzinga
Broken Rail As Possible Cause To Canadian Crude Train Derailments
A March letter from Transportation Safety Board (TSB) investigators to Transport Canada suggests that broken track might have contributed to recent derailments of trains carrying crude oil, including two accidents involving Canadian Pacific Railway Limited (NYSE: CP) trains in February 2020 and December 2019.As a result, TSB investigators are recommending that Transport Canada update its regulations regarding track standards for key routes, especially since the last updates were made in May 2012 and the industry has evolved to running longer and heavier trains since then."As train operations have evolved, the TSR [track safety rules] have not kept pace...While the TSR establish minimum standards for track infrastructure, there are no provisions in the TSR to address the need for enhanced track standards for key routes despite sometimes significant increases in DG [dangerous goods] traffic volumes," said the March 4 letter by Dan Holbrook, acting director of rail/pipeline investigators for TSB, to the Director General for rail safety for Transport Canada. The letter explained that changes in the rail industry have enabled CP and Canadian National Railway Company (NYSE: CNI) to run longer and heavier trains. "Over the past 10 years or so, train operations have evolved and there have been a number of operational improvements implemented throughout the rail industry, such as the proliferation of distributed power technology. These advancements have facilitated more effective management of in-train forces allowing for longer, heavier trains," TSB said. "Similarly, train traffic has evolved and generally increased as more DG are transported in either large blocks of cars within a merchandise train or as unit trains that transport a single DG product such as petroleum crude oil."But as the rail network was handling longer and heavier trains, public and private stakeholders hadn't fully considered the wear and tear that those trains would have on train tracks. For example, broken joint bars or a broken rail were determined as factors contributing to two crude train derailments involving Canadian National (CN) in 2015. CN's investigators initially didn't take into account how increases in train traffic and tonnage could degrade track more quickly, according to TSB. Following the incidents, CN made significant capital investments to track infrastructure in the Ruel Subdivision, and it improved its track inspection and maintenance practices. Although the track is still classified as Class 3 track, there hasn't been a significant main track train derailment on that subdivision since March 2015, TSB said.TSB investigators pointed out that seven accidents in recent years involving trains carrying dangerous goods were "related to failures of track infrastructure."Furthermore, while the freight rail industry has used the tactic of reducing train speeds to prevent train derailments, that action, plus the deployment of the newest tank cars, aren't enough to prevent punctured tank cars in derailments, TSB said. The February 6 incident of a derailed CP train near Guernsey, Saskatchewan, involved DOT 117J100-W specification tank cars, which were industry standard and are the newest tank cars available to transport Class 3 flammable liquids, according to TSB. "The derailment occurred at a speed that was permitted by the Rules Respecting Key Trains and Key Routes in force at the time and the crude oil was transported in DOT 117J100-W tank cars, which have significant design improvements when compared to legacy DOT 111A tank cars," TSB said of the Feb. 6 incident. "Despite using the best tank cars available, about 27 of the tank cars released an estimated 1.6 million litres of product. This suggests that the recent tank car design improvements alone are insufficient to fully mitigate the risk of adverse consequences resulting from derailments involving DG."Although investigations for the December 2019 and February 2020 derailments are still ongoing, "the suspected cause appears to be related to a broken rail," TSB said. The agency also said the Sutherland Subdivision was maintained at a Class 4 standard when the two derailments occurred.Following receipt of the letter, Transport Canada modified in April the speed restrictions for key trains carrying dangerous goods. Transport Canada didn't return a request for comment by press time about this issue.Image: ShutterstockSee more from Benzinga * Prologis Starts Year Off Strong, But Headwinds Are Present * Freight Futures Daily Curve: 4/21 * Today's Pickup: Trucker Helps Drivers Get Masks As She Recovers From Suspected COVID-19(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Barrons.com
Avoid FedEx and UPS Stock, Barclays Says
Barclays analyst Brandon Oglenski is advising investors to avoid parcel shippers, downgrading both FedEx and United Parcel Service Friday morning.
