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    CNR   CA1363751027

CANADIAN NATIONAL RAILWAY COMPANY

(CNR)
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Canadian National Railway : TSX climbs to record high as investors eye strong earnings

10/19/2021 | 04:41pm EST

(Adds strategist quotes and details throughout; updates prices)

* TSX ends up 101.62 points, or 0.5%, at 21,086.99

* Technology group climbs 1.1%; healthcare ends 6.6% higher

* Blackberry Ltd jumps 13.4%

* Energy group rises 0.4%; financials gain 0.5%

TORONTO, Oct 19 (Reuters) - Canada's main stock index rose to a record high on Tuesday, led by technology and cannabis stocks, as investors bet that earnings seasons would be supportive of the market even as the earnings growth rate starts to slow.

The Toronto Stock Exchange's S&P/TSX composite index ended up 101.62 points, or 0.5%, at 21,086.99, a record closing high.

Canadian National Railway Co reported third quarter results after the close, while some other major stocks are due to report over the coming days.

"The markets are going to be looking much more through some of the headline risk to the underlying fundamentals of the individual companies and sectors," said Kevin Headland, senior investment strategist at Manulife Investment Management.

"Perhaps the earnings growth rate is starting to slow, but it still remains quite strong and positive."

The technology group climbed 1.1% on Tuesday, led by a 13.4% jump in the shares of Blackberry Ltd. Healthcare was up 6.6%, including sharp gains for some cannabis producers.

After snapping a seven-month winning streak in September, the Canadian equity index has gained 5.1% so far this month, aided by strength in commodity prices.

U.S. crude oil futures settled 0.6% higher at $82.96 a barrel as an energy supply crunch continued across the globe.

The energy group rose 0.4%, while the heavily weighted financial services group advanced 0.5% as bond yields climbed. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Alistair Bell)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BLACKBERRY LIMITED -3.42% 12.11 Delayed Quote.49.17%
CANADIAN NATIONAL RAILWAY COMPANY -0.83% 162.48 Delayed Quote.17.02%
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Analyst Recommendations on CANADIAN NATIONAL RAILWAY COMPANY
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Financials
Sales 2021 14 496 M 11 334 M 11 334 M
Net income 2021 4 808 M 3 759 M 3 759 M
Net Debt 2021 11 552 M 9 033 M 9 033 M
P/E ratio 2021 24,2x
Yield 2021 1,51%
Capitalization 116 B 90 424 M 90 437 M
EV / Sales 2021 8,78x
EV / Sales 2022 8,45x
Nbr of Employees 23 765
Free-Float 99,4%
Chart CANADIAN NATIONAL RAILWAY COMPANY
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Technical analysis trends CANADIAN NATIONAL RAILWAY COMPANY
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Last Close Price 163,76 CAD
Average target price 164,49 CAD
Spread / Average Target 0,44%
EPS Revisions
Managers and Directors
Jean-Jacques Ruest President, Chief Executive Officer & Director
Ghislain Houle Chief Financial Officer & Executive Vice President
Robert L. Pace Chairman
Dominique Malenfant EVP, Chief Information & Technology Officer
Nayan Bharadwa Vice President-Automated Rail & Technology
Sector and Competitors