We expect CN carloads to be down 6.4% in 1Q16 y/y as result of significant declines in metals and minerals, coal and petroleum products. Due to exposure to commodity prices impacting shipping volumes, we expect a 3.6% y/y decline in 1Q16 revenue, down to $2.99 billion. We predict 1Q16 adjusted diluted EPS of $0.93/share, in line with consensus, which represents an increase of 7% when compared to 1Q15. Due to changes to our expectations, we have lowered our 12-month target price to $87.50/share, ....
23 Mar 2016
1Q16 Carloads Down 6.4% y/y; Adjusted 1Q16 EPS of $0.93; 12 MTP of $87.50/sh, Downgrade to Market Perform
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1Q16 Carloads Down 6.4% y/y; Adjusted 1Q16 EPS of $0.93; 12 MTP of $87.50/sh, Downgrade to Market Perform
Canadian National Railway Company (CNR:TSE) | 0 0 (-0.4%) | Mkt Cap: 71,463m
- Published:
23 Mar 2016 -
Author:
Steven I. Paget -
Pages:
5
We expect CN carloads to be down 6.4% in 1Q16 y/y as result of significant declines in metals and minerals, coal and petroleum products. Due to exposure to commodity prices impacting shipping volumes, we expect a 3.6% y/y decline in 1Q16 revenue, down to $2.99 billion. We predict 1Q16 adjusted diluted EPS of $0.93/share, in line with consensus, which represents an increase of 7% when compared to 1Q15. Due to changes to our expectations, we have lowered our 12-month target price to $87.50/share, ....