Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers. The company operates a network of 19,500 route miles of track spanning Canada and the United States. It also provides vessels and docks, transloading and distribution, automotive logistics, and freight forwarding and transportation management services. The company was founded in 1919 and is headquartered in Montreal, Canada.
IPO Year:
Exchange: NYSE
Website: cn.ca
Date | Price Target | Rating | Analyst |
---|---|---|---|
7/8/2024 | Outperform → Mkt Perform | Bernstein | |
6/27/2024 | Sector Perform → Outperform | National Bank Financial | |
6/7/2024 | $130.00 | Equal Weight | Wells Fargo |
4/10/2024 | $140.00 → $145.00 | Neutral → Buy | BofA Securities |
4/8/2024 | $130.00 | Hold | Jefferies |
1/10/2024 | Sector Outperform → Neutral | CIBC | |
1/8/2024 | Buy → Hold | TD Securities | |
11/27/2023 | $125.00 → $121.00 | Buy → Hold | Deutsche Bank |
10/5/2023 | $131.00 → $115.00 | Buy → Neutral | BofA Securities |
9/14/2023 | Mkt Perform → Outperform | Raymond James |
Stephens & Co. analyst Justin Long maintains Canadian National Railway (NYSE:CNI) with a Equal-Weight and lowers the price target from $127 to $122.
RBC Capital analyst Walter Spracklin maintains Canadian National Railway (TSX:CNR) with a Sector Perform and lowers the price target from C$172 to C$169.
Barclays analyst Brandon Oglenski maintains Canadian National Railway (NYSE:CNI) with a Equal-Weight and lowers the price target from $128 to $120.
Wells Fargo analyst Christian Wetherbee maintains Canadian National Railway (NYSE:CNI) with a Equal-Weight and lowers the price target from $130 to $125.
Benchmark analyst Nathan Martin reiterates Canadian National Railway (NYSE:CNI) with a Hold.
Stifel analyst Benjamin Nolan maintains Canadian National Railway (NYSE:CNI) with a Hold and lowers the price target from $137 to $133.
Susquehanna analyst Bascome Majors maintains Canadian National Railway (NYSE:CNI) with a Neutral and lowers the price target from $135 to $130.
MONTREAL, Sept. 16, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced a public debt offering of US$750 million aggregate principal amount of 4.375% Notes due 2034. CN expects to close the offering on September 18, 2024, subject to the satisfaction of customary closing conditions. CN plans to use the net proceeds from the offering for general corporate purposes, which may include the redemption and refinancing of outstanding indebtedness, share repurchases, acquisitions and other business opportunities. The debt offering is being made in the United States under an effective shelf registration statement dated April 2, 2024. The joint book-running managers of the
MONTREAL, Sept. 10, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that its operations have recovered following several months of labor uncertainty as well as a complete shutdown of its Canadian network, and that it is adjusting its 2024 guidance and long-term financial outlook. CN remains focused on the disciplined execution of its scheduled operating plan, growing volumes more than the economy as its company specific growth opportunities come online, pricing above rail inflation, and improving efficiency. Network RecoveryThe Company's scheduled operating plan, and the steps taken to affect a safe and orderly shutdown, have enabled a swift network recovery foll
MONTREAL, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Ghislain Houle, Executive Vice-President and Chief Financial Officer of CN (TSX:CNR) (NYSE:CNI), will address the Morgan Stanley's 12th Annual Laguna Conference on September 11, 2024, starting at 12:20 p.m. Eastern Time. CN will provide a live webcast via the Investors section of its website at www.cn.ca/investors. A replay of the webcast will be available following the event. About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation serv
MONTREAL, Aug. 24, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) has received an order from the Canada Industrial Relations Board (CIRB) imposing binding arbitration between the Company and the Teamsters Canada Rail Conference (TCRC). The CIRB has also ordered that no further labour stoppage, including a lockout or strike, can occur during the arbitration process. This means that the strike notice recently issued to CN by the Teamsters is now voided. CN will comply with the order which also extends the current collective agreement until a new agreement is signed between the parties. Over the last nine months, CN negotiated in good faith to reach a deal at the table. The Company consi
MONTREAL, Aug. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) has been served with a 72-hour strike notice by the Teamsters Canada Rail Conference (TCRC). The Teamsters intend to strike as of 10:00 AM ET on Monday, August 26, 2024. CN proactively ended the lockout of the Teamsters on August 22, following the Minister of Labour's direction to the Canada Industrial Relations Board (CIRB) to impose binding arbitration between both parties. While CN is focused on its recovery plan to get back to powering the economy, the Teamsters are focused on returning to the picket line and shutting down the economy, impacting people and jobs across the country. Over the last nine months, CN has n
MONTREAL, Aug. 22, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that effective 18:00 ET, it ended its lock out and immediately initiated its recovery plan. As CN awaits the formal order from the Canada Industrial Relations Board (CIRB), the Company is making this decision to expedite the recovery of the economy. While CN is satisfied that this labour conflict has ended and that it can get back to its role of powering the economy, the Company is disappointed that a negotiated deal could not be achieved at the bargaining table despite its best efforts. CN Forward-Looking Statements Certain statements by CN included in this news release constitute "forward-looking
MONTREAL, Aug. 22, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) has formally locked out employees represented by the Teamsters Canada Rail Conference (TCRC) as of Aug. 22 at 00:01 ET, after the union did not respond to another offer by CN in a final attempt to avoid a labour disruption. This offer improved wages and would have seen employees work less days in a month by aligning hours of service in the collective agreement with federally mandated rest provisions. The offer also proposed a pilot project for hourly rates and scheduled shifts on a portion of the network as CN continues to believe this is a better and more predictable framework for our employees. Without an agreement
MONTREAL, Aug. 18, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) has issued notice to the Teamsters Canada Rail Conference (TCRC) formally advising them of its intention to lockout Canadian TCRC-represented employees on Aug. 22 at 00:01 ET unless an agreement or binding arbitration is achieved before that time. Despite negotiations over the weekend, no meaningful progress has occurred, and the parties remain very far apart. Unless there is an immediate and definite resolution to the labour conflict, CN will have no choice but to continue the phased and progressive shutdown of its network which would culminate in a lockout. CN must continue with the progressive and planned
MONTREAL, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Following the Canada Industrial Relations Board's (CIRB) decision that does not bring the labour conflict any closer to a resolution, CN (TSX:CNR) (NYSE:CNI) is formally requesting the Minister of Labour's intervention under section 107 of the Canada Labour Code to protect Canada's economy from the impacts of prolonged uncertainty. Negotiations with the TCRC resumed on Wednesday. However, no progress has been made as the TCRC has not engaged meaningfully at the negotiating table. While CN is willing to keep negotiating with the TCRC, the Company has lost faith in the process and is concerned that a negotiated deal is no longer possible
MONTREAL, July 31, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today published its 2024-2025 Grain Plan, which builds on the Company's successful operational improvements and strategic capital investments from the previous grain season. "We are confident that we have the right approach and resources in place to move this year's Canadian grain crop efficiently. We continue to lean into our scheduled railroading model and making sure that our ongoing capital investments position us for success again this year. Working with supply chain stakeholders and governments, we are taking steps to address several regulatory issues impacting the sector, to remove obstacles so we can focus our
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Bernstein downgraded Canadian Nat'l Rail from Outperform to Mkt Perform
National Bank Financial upgraded Canadian Nat'l Rail from Sector Perform to Outperform
Wells Fargo initiated coverage of Canadian Nat'l Rail with a rating of Equal Weight and set a new price target of $130.00
BofA Securities upgraded Canadian Nat'l Rail from Neutral to Buy and set a new price target of $145.00 from $140.00 previously
Jefferies initiated coverage of Canadian Nat'l Rail with a rating of Hold and set a new price target of $130.00
CIBC downgraded Canadian Nat'l Rail from Sector Outperform to Neutral
TD Securities downgraded Canadian Nat'l Rail from Buy to Hold
Deutsche Bank downgraded Canadian Nat'l Rail from Buy to Hold and set a new price target of $121.00 from $125.00 previously
BofA Securities downgraded Canadian Nat'l Rail from Buy to Neutral and set a new price target of $115.00 from $131.00 previously
Raymond James upgraded Canadian Nat'l Rail from Mkt Perform to Outperform
MONTREAL, July 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that its Board of Directors has approved a third-quarter 2024 dividend on the Company's common shares outstanding. A quarterly dividend of eighty-four and a half cents (C$0.8450) per common share will be paid on September 27, 2024, to shareholders of record at the close of business on September 6, 2024. About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern an
MONTREAL, July 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today reported its financial and operating results for the second quarter ended June 30, 2024. "I am encouraged by our quarterly volume gains, particularly our CN specific growth initiatives. Our team of railroaders has continued to deliver outstanding service to our customers despite some transient challenges on a key portion of our Western Region that impacted our costs, and traffic diversions due to ongoing labor uncertainty. As we look forward, we are focused on the disciplined execution of our plan, delivering sustainable growth, and resolving labor uncertainty." - Tracy Robinson, President and Chief Executive Offic
MONTREAL, July 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) will issue its second-quarter 2024 financial and operating results after the market close. CN's senior officers will review the results and the railway's outlook in a conference call starting at 4:30 p.m. Eastern Time today. Tracy Robinson, CN President and Chief Executive Officer, will lead the call. Parties wishing to participate via telephone may dial 1-800-715-9871 (Canada/U.S.), or 1-647-932-3411 (International), using 2135176 as the passcode. Participants are advised to dial in 10 minutes prior to the call. CN will webcast the presentation live and furnish slides supporting the officers' remarks via the Investors
MONTREAL, July 08, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) will issue its second-quarter 2024 financial and operating results after the market close on July 23, 2024. CN's senior officers will review the results and the railway's outlook in a conference call starting at 4:30 p.m. Eastern Time on July 23. Tracy Robinson, CN President and Chief Executive Officer, will lead the call. Parties wishing to participate via telephone may dial 1-800-715-9871 (Canada/U.S.), or 1-647-932-3411 (International), using 2135176 as the passcode. Participants are advised to dial in 10 minutes prior to the call. CN will webcast the presentation live and furnish slides supporting the officers
MONTREAL, April 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today reported its financial and operating results for the first quarter ended March 31, 2024. "Our team of railroaders delivered to plan in the first quarter and our scheduled operating model continued to enhance our service to customers. Looking forward, we are confident for 2024. We are seeing the expected improvements in the economy, and our CN-specific growth opportunities are materializing. We remain committed to delivering on our growth agenda and powering the economy." — Tracy Robinson, President and Chief Executive Officer, CN Quarterly highlights Revenue ton miles (RTMs) remained flat at 59,749 (mill
MONTREAL, April 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that its Board of Directors has approved a second-quarter 2024 dividend on the Company's common shares outstanding. A quarterly dividend of eighty-four and a half cents (C$0.8450) per common share will be paid on June 28, 2024, to shareholders of record at the close of business on June 7, 2024. About CNCN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. CN's network connect
MONTREAL, April 03, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) will issue its first-quarter 2024 financial and operating results after the market close on April 23, 2024. CN's senior officers will review the results and the railway's outlook in a conference call starting at 4:30 p.m. Eastern Time on April 23. Tracy Robinson, CN President and Chief Executive Officer, will lead the call. Parties wishing to participate via telephone may dial 1-800-715-9871 (Canada/U.S.), or 1-647-932-3411 (International), using 7188340 as the passcode. Participants are advised to dial in 10 minutes prior to the call. CN will webcast the presentation live and furnish slides supporting the officers' re
MONTREAL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that its Board of Directors has approved a 7% increase in the 2024 dividend on the Company's common shares outstanding as well as the repurchase of its shares under a new normal course issuer bid (Bid). The Bid permits CN to purchase, for cancellation, over a 12-month period up to 32 million common shares, representing 5.63% of the 568,002,080 common shares issued and outstanding of the Company not held by insiders on January 18, 2024. On that date, 642,832,885 common shares were issued and outstanding. "CN has continued to deliver good financial results and free cash flow despite challenging market condi
MONTREAL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today reported its financial and operating results for the fourth quarter and year ended December 31, 2023. For the fourth quarter, the Company delivered diluted earnings per share (EPS) of C$3.29, an increase of 57% and adjusted diluted EPS of C$2.02, a decrease of 4%. (1) Operating ratio for the fourth quarter increased by 1.4-points to 59.3%. For 2023, the Company reported diluted EPS growth of 15%, while adjusted diluted EPS decreased by 2%. (1) Operating ratio for 2023 increased by 0.8-points, or 0.9-points on an adjusted basis. (1) "Through 2023, our team of dedicated railroaders leveraged our scheduled operating mo
MONTREAL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) will issue its fourth quarter and full-year 2023 financial and operating results after the market close. CN's senior officers will review the results and the railway's outlook in a conference call starting at 4:30 p.m. Eastern Time today. Tracy Robinson, CN President and Chief Executive Officer, will lead the call. Parties wishing to participate via telephone may dial 1-800-715-9871 (Canada/U.S.), or 1-647-932-3411 (International), using 2741585 as the passcode. Participants are advised to dial in 10 minutes prior to the call. CN will webcast the presentation live and furnish slides supporting the officers' remarks via
MONTREAL, April 18, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced the appointment of Remi G. Lalonde as Executive Vice-President and Chief Commercial Officer of CN effective April 24th, 2024. Remi is succeeding Doug MacDonald who will retire from CN following an impressive career of nearly 35 years. Since his arrival at CN in January, Remi has been embedded within CN's operations, gaining first-hand experience with scheduled railroading and executing CN's ‘Make the Plan, Run the Plan, Sell the Plan' model. Following his introduction to operations, Remi has been meeting customers and working closely with Doug and the team to ensure a seamless transition to the commerci
MONTREAL, Jan. 08, 2024 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced the appointment of Remi G. Lalonde as Executive Vice-President and Special Advisor to the CEO in anticipation of his transition to the role of Chief Commercial Officer (CCO) of CN later in the year. The Chief Commercial Officer (CCO) role is a critical executive role, overseeing CN's strong, experienced, customer focused Sales and Marketing team. As a former CEO, CFO and SVP at a prominent forest products company, Remi has led teams, executed strategy, managed regulatory matters, engaged with Indigenous communities and stakeholders, headed manufacturing operations, and worked with investors and supplie
MONTREAL, Oct. 18, 2023 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced the appointment of Patrick Whitehead as Executive Vice-President and Chief Network Operating Officer and the appointment of Derek Taylor as Executive Vice-President and Chief Field Operating Officer. Their appointments are effective as of November 15. Pat and Derek will succeed Ed Harris who will take on a consultant role until March 31, 2024, to ensure a seamless transition. The evolution of CN's operations organization recognizes the distinction in focus and capabilities between the development of the plan, including building our network for the future, and the day-to-day demands of safely execut
MONTREAL, Nov. 28, 2022 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) today announced the appointment of Edmond (Ed) Harris as Executive Vice-President and Chief Operating Officer. Mr. Harris succeeds Rob Reilly, effective immediately. Since April 2022, Mr. Harris, a highly respected industry veteran, has worked closely with the entire CN operations leadership team on the company's operational and service excellence initiatives, as the team delivered meaningful rail operations performance and customer service improvements. "We are very pleased to be able to leverage Ed's experience and capabilities as we continue to improve the delivery of safe and reliable freight transportation services
Quebec-Based Independent Director with Extensive North American Business Experience and record of Sustainability Leadership Demonstrates Board's Ongoing Commitment to CN's Leadership in Corporate Governance and ESG MONTREAL, Sept. 08, 2022 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that, after a rigorous search process, Michel Letellier has been appointed to the Board of Directors of CN. Mr. Letellier will join the Board on October 1, 2022. Mr. Letellier, 58, is the President and Chief Executive Officer of Montreal headquartered Innergex Renewable Energy Inc., one of the largest Canadian independent renewable power producers with operations in Canada, the Uni
MONTREAL, May 20, 2022 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced that a new Chairperson and the director nominees listed in the management information circular dated April 5, 2022, were elected as directors of CN. The detailed results of the vote are available below. Shauneen Bruder was unanimously elected by the board of directors as board chair. Ms. Bruder was, until her retirement on October 31, 2019, the Executive Vice-President, Operations at the Royal Bank of Canada (RBC) where she was responsible for overseeing operations related to all personal and business clients in Canada. Ms. Bruder joined CN's board in 2017. "I am honoured to become the Chair of the CN Board
Jean Charest appointed to CN's Board of Directors as an independent Director Shauneen Bruder named Vice Chair Two new independent Directors to be appointed to the Board by no later than CN's 2022 Annual General Meeting MONTREAL, Jan. 25, 2022 (GLOBE NEWSWIRE) -- CN (TSX:CNR, NYSE:CNI) today announced that it has appointed Tracy Robinson as President and Chief Executive Officer and as a member of its Board of Directors, effective February 28, 2022. This appointment follows the previously announced retirement of Jean-Jacques ("JJ") Ruest, who will depart CN's Board on February 28, 2022 but remain at CN in an advisory role until March 31, 2022 to ensure a seamless transition. Ms. Robins
LONDON, Dec. 23, 2021 /PRNewswire/ -- Long-term shareholders CIFF Capital UK LP and The Children's Investment Master Fund, acting by their investment manager TCI Fund Management Limited (CIFF Capital UK LP, The Children's Investment Master Fund and TCI Fund Management Limited, together, "TCI"), today commented on the CEO search process at Canadian National Railway Company (TSX:CNR)(NYSE:CNI) ("CN" or the "Company") and reiterated the urgent need for change on the CN Board of Directors. The full statement from TCI follows: "Given the CN Board's history of failed CEO appointments, it is not a surprise to us that the Board has failed once again to attract the best candidate for the role. T
Ten new members drawn from Canada's First Nations, Inuit and Métis communities join Council The Council will provide advice and guidance to the board and CEO of CN on deepening its relationship with Indigenous peoples MONTREAL, Nov. 24, 2021 (GLOBE NEWSWIRE) -- The co-chairs of CN's (TSX:CNR) (NYSE:CNI) new Indigenous Advisory Council ("IAC"), Ms. Roberta Louise Jamieson, OC, Kanyen'kehà:ka, and the Hon. Murray Sinclair, C.C., M.S.M., Mizhana Geezhik, today announced the successful conclusion of their first meeting and its membership. The Council comprises accomplished and respected representatives of Canada's First Nations, Inuit and Métis communities who will provide advice to CN's Boa
MONTREAL, Oct. 27, 2021 (GLOBE NEWSWIRE) -- CN (TSX:CNR) (NYSE:CNI) announced today that Jo-ann dePass Olsovsky has been appointed to serve on the Board of Directors of CN, effective immediately. Ms. dePass Olsovsky, 56, brings more than 35 years of technology, infrastructure operations, and railroad experience to CN. She is currently the Executive Vice President and Chief Information Officer of Salesforce, where she oversees the company's global information technology organization, including technology strategy; customer, partner and employee experience; enterprise applications; network infrastructure; collaboration tools; 7x24 enterprise operations; architecture; and merger & acquisitio