Canadian National Railway CompanyNYSE
Wed, Nov. 23, 5:25 PM
- Despite Canada's planned phaseout of coal-fired power plants, the country's railways expect to ship more coal, not less, driven by a rebound in the price of steel-making coal and U.S. Pres.-elect Trump’s promise to revive the industry there, Financial Post reports.
- Canadian National Railway (NYSE:CNI) and Canadian Pacific Railway (NYSE:CP) are seeing their coal volumes bounce off Q2 lows and should continue to see carloads increase for the foreseeable future.
- “In the short term, the biggest benefit we’re going to see on coal is from that met coal price,” says Raymond James transportation analyst Steve Hansen. “On a longer-term basis, depending on the coal policies in the U.S., we could see a resurgence in some of that thermal coal volume as well.”
- Major U.S. railways, which are far more dependent on coal than their Canadian competitors, have surged since Trump's election on Nov. 8 - Norfolk Southern (NYSE:NSC) has surged 10% and Union Pacific (NYSE:UNP) has jumped 12% - but some analysts think CNI and CP, each up ~5% since the election, could catch up eventually.
Wed, Oct. 26, 12:51 PM
- Bernstein backs up its current ratings on railroad stocks after digesting the first batch of earnings reports. Aggressive cost-cutting in the sector has helped to make up for some of the volume declines in key categories.
- Canadian Pacific Railway (CP -1.6%) is kept at Outperform, with a $17 price target.
- Canadian National railway (CNI -2.6%) is maintained at Market Peform, with a $68 price target.
- CSX (CSX -0.8%) stayed at Market Perform, with a $32 price target.
- Norfolk Southern (NSC -2.2%) is backed at Market Perform, with a $96 price target.
- Previously: Norfolk Southern beats by $0.10, revenue in-line (Oct. 26)
- Previously: Canadian National Railway beats by C$0.34, beats on revenue (Oct. 25)
Tue, Oct. 25, 5:08 PM
Tue, Oct. 25, 4:11 PM
Mon, Oct. 24, 5:35 PM
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Fri, Sep. 30, 4:51 AM
- A New Jersey commuter train crashed into Hoboken Terminal Thursday morning, killing one person and injuring over a hundred, renewing a focus on a mandatory anti-collision system that has been plagued by lengthy delays.
- By law, NJ Transit is required to have a positive train control system in place by the end of 2018.
- Amtrak has rolled out PTC on its network, while freight railroads have mostly been rolling out the technology a section of track at a time.
- Related tickers: UNP, CSX, NSC, CNI, CP, KSU, WAB
Mon, Jul. 25, 4:17 PM
Mon, Jul. 25, 4:14 PM
Tue, Jun. 21, 11:14 AM
- Canadian Pacific (CP -2.7%) warns that Q2 revenue will tail off 12% Y/Y in Q2 and EPS will come in 18% lower.
- The revised guidance from the railroad company is for Q2 revenue of C$1.45B vs. C$1.56B and Q2 EPS of C$2.00 vs. C$2.48 consensus
- Greenbrier (GBX -1.6%), Genesee & Wyoming (GWR -1.6%), CSX (CSX -1.1%), and Canadian National Railway (CNI -0.9%) are all lower after the soft view from a sector leader.
Thu, Jun. 9, 9:34 AM
- Total U.S. carload traffic for the first 22 weeks of 2016 is down 8% to 10,923,300 carloads, according to data from the Association of American Railroads. Weak demand for transport of coal and petroleum products continues to be major factor.
- Intermodal containers and trailers traffic fell 2% to 5,648,851 units.
- U.S. rail traffic volume decreased 14% to 5,274,449 carloads.
- Railroad traffic is also lower in Canada (-8%) and Mexico (-0.1%) on a YTD comparison.
- Railroad stocks: UNP, NSC, CSX, CNI, ARII, GBX, CP, KSU, CNI, WAB, TRN.
Tue, Jun. 7, 10:26 AM
- Canadian National Railway (CNI +0.4%) says CEO Claude Mongeau will step down at the end of this month, less than six months after returning to lead the company following treatment for a throat tumor.
- CNI says Mongeau will be succeeded by Luc Jobin, who joined the railroad in 2009 as CFO and was placed in charge of the leadership team when Mongeau took medical leave last fall.
- Mongeau has worked for CNI for 22 years and became CEO at the beginning of 2010.
Tue, Apr. 26, 9:16 AM
Tue, Apr. 26, 8:01 AM
- Bank of America Merrill Lynch downgrades Canadian National Railway (NYSE:CNI) two notches to an Underperform rating after the company lowered full-year EPS guidance.
- TD Securities moves to a Hold rating from Buy.
- CIBC downgrades the railroad operator to Sector Perform from Outperform.
- CNI -7.12% premarket to $60.56.
- Now read the Canadian National Railway earnings call transcript
Mon, Apr. 25, 6:45 PM
- Canadian National Railway (NYSE:CNI) -4.9% AH after reporting better than expected Q1 earnings while revenue fell 4.5% to a below consensus $2.96B.
- CNI issues downside FY 2016 guidance, seeing EPS in-line with last year's C$4.44 vs. C$4.67 analyst consensus estimate, citing weaker than expected freight demand in certain markets and the strengthening of the Canadian dollar; the railroad earlier had forecast a mid-single digit increase for the full year.
- CNI says carloads this year will decline 4%-5% Y/Y, with pricing staying above inflation, as coal, crude oil and sand shipments remain weak for the year.
- Q1 operating expenses fell 14%, helped by lower fuel prices and reduced labor costs; CNI says it had ~2,400 fewer workers in Q1 than a year earlier.
- Shipping crude by rail has become “broadly unattractive” because of low oil prices and excess pipeline capacity, Chief Marketing Officer Jean-Jacques Ruest says. “The volume is weak, will get weaker, and the pricing is not the greatest.”
- Now read Could Canadian National be the best railroad in North America?
Mon, Apr. 25, 5:39 PM
Mon, Apr. 25, 4:22 PM
- Canadian National Railway (NYSE:CNI) declares C$0.375/share quarterly dividend, in line with previous.
- Forward yield 1.81%
- Payable June 30; for shareholders of record June 9; ex-div June 7.