Canadian National Railway Company (CNI - Free Report) recently announced an investment plan for 2019 worth $370 million to expand and fortify its rail network across the province of Manitoba.
This investment will augment its capacity and network resiliency, while catering to the growing traffic throughout the province. To this end, the company will construct a double track near Exira, west of Portage la Prairie, among other things. Apart from network extension, the program will involve maintenance and replacement (of rail) initiatives. In another expansion initiative, last week, the company announced plans to invest $370 million for network expansion across Alberta. (Read more: Canadian National to Invest $370M in Alberta Rail Network)
The Manitoba capital investment is part of the company’s 2019 capital program valued at $3.9 billion. The program is focused on driving growth across all commodity groups such as consumer goods, grain, agriculture, forest and energy products, to name a few.
Similar to the company’s 2018 capital program, which was valued at C$3.5 billion, capital investments for the current year are anticipated to drive growth.
Zacks Rank & Key Picks
Canadian National carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Norfolk Southern Corporation (NSC - Free Report) , GATX Corporation (GATX - Free Report) and Azul (AZUL - Free Report) . While Norfolk Southern and GATX carry a Zacks Rank #2 (Buy), Azul sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Norfolk Southern, GATX and Azul have gained more than 21%, 6% and 2%, respectively, on a year-to-date basis.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Canadian National Railway Company (CNI - Free Report) recently announced an investment plan for 2019 worth $370 million to expand and fortify its rail network across the province of Manitoba.
This investment will augment its capacity and network resiliency, while catering to the growing traffic throughout the province. To this end, the company will construct a double track near Exira, west of Portage la Prairie, among other things. Apart from network extension, the program will involve maintenance and replacement (of rail) initiatives. In another expansion initiative, last week, the company announced plans to invest $370 million for network expansion across Alberta. (Read more: Canadian National to Invest $370M in Alberta Rail Network)
The Manitoba capital investment is part of the company’s 2019 capital program valued at $3.9 billion. The program is focused on driving growth across all commodity groups such as consumer goods, grain, agriculture, forest and energy products, to name a few.
Similar to the company’s 2018 capital program, which was valued at C$3.5 billion, capital investments for the current year are anticipated to drive growth.
Zacks Rank & Key Picks
Canadian National carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Norfolk Southern Corporation (NSC - Free Report) , GATX Corporation (GATX - Free Report) and Azul (AZUL - Free Report) . While Norfolk Southern and GATX carry a Zacks Rank #2 (Buy), Azul sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Norfolk Southern, GATX and Azul have gained more than 21%, 6% and 2%, respectively, on a year-to-date basis.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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