Topic: How To Invest

The Successful Investor Hotline – Friday, July 26, 2024

Article Excerpt

CANADIAN NATIONAL RAILWAY CO., $159.60, Toronto symbol CNR, remains a buy for long-term gains. CN operates Canada’s largest railway. Its 30,250-kilometre network stretches across the country. It also travels down through the U.S. Midwest, connecting Canada to the Gulf of Mexico. The stock fell 4% this week after the company reported lower-than-expected quarterly results. It also cut its full-year profit outlook. CN’s revenue in the second quarter of 2024 rose 6.7%, to $4.33 billion from $4.06 billion a year earlier. However, that missed the consensus forecast of $4.40 billion. Higher volumes of commodities like crude oil, metals and grain offset disruptions on its network in Western Canada as shippers diverted goods to U.S. ports in response to a potential strike by CN’s engineers and conductors. Earnings in the quarter rose 0.4%, to $1.172 billion from $1.167 billion. The company spent $1.12 billion on share buybacks in the quarter, so earnings per share improved 4.5%, to $1.84 from $1.76. However, that missed the $1.93 a share…