CNI - Canadian National Railway Company

Rise in Rail Shipments Points to Beginnings 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 furloughed more than 2,500 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.”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.

Stop Making This Common Dividend Mistake

Why choosing Canadian National Railway (TSX:CNR)(NYSE:CNI) and Fortis (TSX:FTS)(NYSE:FTS) can boost your dividend returns.The post Stop Making This Common Dividend Mistake appeared first on The Motley Fool Canada.

Top TSX Stock Picks for June

We asked our freelance writers to share their top TSX stock picks for June - their picks include Lightspeed POS (TSX:LSPD), Restaurant Brands International (TSX:QSR)(NYSE:QSR), and Canadian Pacific Railway Ltd. (TSX:CP)(NYSE:CP).The post Top TSX Stock Picks for June appeared first on The Motley Fool Canada.

TFSA Investors: Got $6,000? These 3 Stocks Are Looking Good

Driven by strong growth, stocks like Cargojet Inc (TSX:CJT) could be good buys at today's prices.The post TFSA Investors: Got $6,000? These 3 Stocks Are Looking Good appeared first on The Motley Fool Canada.

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

3 Recession-Proof Gems To Hold Forever

These three companies will keep your portfolio afloat during the recession: Nutrien Ltd (TSX:NTR)(NYSE:NTR), Canadian National Railway (TSX:CNR)(NYSE:CNI) and Barrick Gold (TSX:ABX)(NYSE:GOLD).The post 3 Recession-Proof Gems To Hold Forever appeared first on The Motley Fool Canada.

CN Rail feeling slowdown as auto and crude revenues drop, prompting job cuts

MONTREAL — Business at Canadian National Railway Co. has gone downhill since mid-March, leading to thousands of temporary job cuts at the company as the COVID-19 pandemic rips into a sector that serves as a barometer of economic cycles.Revenue ton miles — a key industry metric — fell 15 per cent year over year in April and 21 per cent in May, CEO JJ Ruest said Thursday, speaking at a conference held online."Business has been slowing down since mid-March, April was lower than March and May was lower than April," he said. "June might be flat to May," although it could be the "tipping point ... slightly."CN Rail has cut its workforce by 5,800 employees or 21 per cent since May 2019, including 3,500 workers furloughed due to the pandemic, Ruest said.More than 70 per cent of those furloughs were already in place by late April, the company said last month.The job cuts come in lockstep with a reduction in the number of active cars by 17 per cent, with some 21,000 now in storage. More than 20 per cent of CN's locomotive fleet — about 720 engines — are also off the track indefinitely, it said.Ruest said automotive shipments have been a "roller-coaster," falling, rising and falling again as factories in China closed and then reopened just as plants shut down in North America.Auto volumes have dropped more than 90 per cent year over year, he said, with a bleak outlook for the months ahead as frugal consumers pull back on big purchases in a recession."I don't know whether people will start to buy vehicles again," Ruest said.Meanwhile, earnings from crude by rail and frac sand are "as bad as can be" amid a global glut of oil and a pandemic-induced plunge in demand, both of which have sent oil prices to near-record lows over the past two months.On the plus side, the CEO said grain revenues will likely hit new monthly highs in May, June and July after notching record levels in March and April following a backlog owing to a late, wet crop last year.CN, which last month scrapped its 2020 profit forecast as well as the three-year targets it outlined last June, is aiming for $2.5 billion of free cash flow in 2020, Ruest said.This report by The Canadian Press was first published May 28, 2020.Companies in this story: (TSX:CNR)Christopher Reynolds, The Canadian Press

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.

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Investors: 2 Cheap Stocks to Buy and Hold for Decades

Waste Connections Inc. (TSX:WCN)(NYSE:WCN) and another 'moaty' stock that Canadian investors should buy right now.The post Investors: 2 Cheap Stocks to Buy and Hold for Decades appeared first on The Motley Fool Canada.

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.

Got $2,000 to Invest? These 3 Stocks Could Pay off Massively in 10 Years

Stocks rise and fall, but quality businesses like The Canadian National Railway (TSX:CNR)(NYSE:CNI) grow over the long term.The post Got $2,000 to Invest? These 3 Stocks Could Pay off Massively in 10 Years appeared first on The Motley Fool Canada.

2 Stocks to Buy With Bank of Canada’s Low Interest Rates!

In a low interest rate environment, utility stocks like Fortis Inc (TSX:FTS)(NYSE:FTS) tend to thrive.The post 2 Stocks to Buy With Bank of Canada's Low Interest Rates! appeared first on The Motley Fool Canada.

Canadian Dollar: Do THIS if the Loonie Keeps Plummeting!

If the Canadian dollar continues its slide, stocks like the Canadian National Railway (TSX:CNR)(NYSE:CNI) will benefit.The post Canadian Dollar: Do THIS if the Loonie Keeps Plummeting! appeared first on The Motley Fool Canada.

Got $3,000 to Invest? Here Are 3 Cheap TSX Stocks to Buy in May

After the recent stock market crash, stocks like Fortis Inc (TSX:FTS)(NYSE:FTS) remain historically cheap.The post Got $3,000 to Invest? Here Are 3 Cheap TSX Stocks to Buy in May appeared first on The Motley Fool Canada.

60-Cent Loonie Looming? Hedge Your Portfolio With CN Rail (TSX:CNR) Stock

CN Rail (TSX:CNR)(NYSE:CNI) is a terrific way to hedge yourself if you're worried about the Canadian dollar falling into 60-cent territory.The post 60-Cent Loonie Looming? Hedge Your Portfolio With CN Rail (TSX:CNR) Stock appeared first on The Motley Fool Canada.

$10,000 in This TSX Stock Will Earn You $10,000 in Dividends in 20 Years

Investing in dividend stocks is more than just about the yield. How fast a company grows its payouts plays an important role in your dividend-based income.The post $10,000 in This TSX Stock Will Earn You $10,000 in Dividends in 20 Years appeared first on The Motley Fool Canada.

TFSA Pension: How to Turn $6,000 Into $125,000 for Retirement!

Where should you invest your $6,000 TFSA contribution in 2020?The post TFSA Pension: How to Turn $6,000 Into $125,000 for Retirement! appeared first on The Motley Fool Canada.

Get Your Retirement Back in Track With 2 Dividend Stocks

The Canadian National Railway stock and the Brookfield Renewable Energy Partners stock could be ideal buys to get your retirement back on track.The post Get Your Retirement Back in Track With 2 Dividend Stocks appeared first on The Motley Fool Canada.

Recession: Should I Buy Canadian Railway Stocks?

Railway companies like Canadian National Railway (TSX:CNR)(NYSE:CNI) have been excellent capital and dividend appreciation stocks for years. With the potential for a prolonged recession ahead, is it still the time to buy?The post Recession: Should I Buy Canadian Railway Stocks? appeared first on The Motley Fool Canada.

Stock Market Rally: 3 Stocks Looking Bullish Right Now!

Stocks like Cargojet Inc (TSX:CJT) are looking bullish after Q1 earnings.The post Stock Market Rally: 3 Stocks Looking Bullish Right Now! appeared first on The Motley Fool Canada.

Retire Rich: Should TFSA Investors Buy CN (TSX:CNR) Stock Today?

Long-term investors in CN (TSX:CNR)(NYSE:CNI) stock have become quite wealthy. Is this the right time to add CN to your TFSA retirement fund?The post Retire Rich: Should TFSA Investors Buy CN (TSX:CNR) Stock Today? appeared first on The Motley Fool Canada.

CN Rail (TSX:CNR): A Top Canadian Stock to Buy in May

Canadian National Railway Co. (TSX:CNR)(NYSE:CNI) is a top stock to buy as the railroad company is in a great position to rebound once the economy recovers.The post CN Rail (TSX:CNR): A Top Canadian Stock to Buy in May appeared first on The Motley Fool Canada.

Is This Canada’s Most Defensive Dividend Stock?

Canadian National Railway Co. (TSX:CNR)(NYSE:CNI) is one of the most strongly diversified dividend stocks on the TSX. Here’s why else it’s a buy.The post Is This Canada’s Most Defensive Dividend Stock? appeared first on The Motley Fool Canada.

Ignore Air Canada (TSX:AC): Buy This Stock Instead!

As Air Canada nears bankruptcy, it might be time to ditch the stock and buy shares of a stock like the Canadian National Railway to save your capital.The post Ignore Air Canada (TSX:AC): Buy This Stock Instead! appeared first on The Motley Fool Canada.

Why the Canadian National Railway (TSX:CNR) Stock Price Lagged the TSX Index in April

A lack of visibility for Canadian National Railway stock is no match for the company's strong execution and financial health.The post Why the Canadian National Railway (TSX:CNR) Stock Price Lagged the TSX Index in April appeared first on The Motley Fool Canada.