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    CNR   CA1363751027

CANADIAN NATIONAL RAILWAY COMPANY

(CNR)
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Canadian National Railway : TSX falls to 4-week low as election uncertainty weighs

09/17/2021 | 05:09pm EST

(Adds investor comments, market details, updates prices)

* TSX ends down 0.5%

* Posts its lowest closing level since Aug. 23

* Financials fall 1%; energy ends nearly 2% lower

* Oil settles 0.9% lower

TORONTO, Sept 17 (Reuters) - Canada's main stock index on Friday fell to its lowest level in nearly four weeks as investors showed reluctance to buy stocks during a seasonally weak period for the market and awaited the outcome of a federal election.

The Toronto Stock Exchange's S&P/TSX composite index ended down 111.74 points, or 0.5%, at 20,490.36, its lowest closing level since Aug. 23.

For the week, the index was down 0.7%, extending its pullback from a record high earlier this month.

"I think a lot of Canadians are looking to the election on Monday," said Allan Small, senior investment adviser of the Allan Small Financial Group with iA Private Wealth.

Equities investors are casting a nervous eye over some of the campaign promises made by Canadian political parties, including Prime Minister Justin Trudeau's vow to raise corporate taxes on the most profitable banks and insurers to help pay for the cost of the economic recovery and his pledge to immediately cap oil and gas emissions.

The financial services sector, which accounts for about 30% of the TSX's valuation, fell 1%. Energy was down nearly 2% and the materials group, which includes precious and base metals miners and fertilizer companies, lost 0.7% as commodity prices fell.

Oil settled 0.9% lower at $71.97 a barrel, while copper was down 0.7%.

Investors "are kind of taking a wait-and-see approach because September is normally a soft month," Small said. "If there is no good news it seems the path of least resistance is lower."

U.S. stocks were also lower in a broad selloff.

Canadian National Railway Co gained 2.4% after the railroad operator said it would resume a previously approved share buyback, days after walking away from its $29.6 billion deal for U.S. railroad operator Kansas City Southern. (Reporting by Fergal Smith in Toronto Additional reporting by Amal S in Bengaluru Editing by Matthew Lewis)


ę Reuters 2021
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Analyst Recommendations on CANADIAN NATIONAL RAILWAY COMPANY
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Financials
Sales 2021 14 489 M 11 272 M 11 272 M
Net income 2021 4 808 M 3 740 M 3 740 M
Net Debt 2021 11 604 M 9 028 M 9 028 M
P/E ratio 2021 24,2x
Yield 2021 1,50%
Capitalization 116 B 90 662 M 90 305 M
EV / Sales 2021 8,81x
EV / Sales 2022 8,44x
Nbr of Employees 23 765
Free-Float 99,4%
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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 30
Last Close Price 164,34 CAD
Average target price 163,79 CAD
Spread / Average Target -0,33%
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