Back to top
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Canadian National Railway Company (CNI) - $25 value - yours FREE >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Canadian National Railway Company (CNI) - $25 value - yours FREE >>
Image: Bigstock
Canadian National (CNI) February Grain Movement Hits New Record
Canadian National Railway Company’s (CNI - Free Report) record-setting grain movement continues. The company shipped record volumes of Canadian grain for the 12th consecutive month in February 2021.
It shipped more than 2.28 million metric tonnes (MMT) of Canadian grain and processed grain products last month, exceeding its previous record set in February 2019 by more than 7%.
During the 2020-2021 crop year, Canadian National has moved more than 19.7 MMT of Canadian grain, which exceeds the three-year average of 15.9 MMT by 24%. It is also higher than the record set in the 2018-2019 crop year by 17%.
Canadian National Railway Company Price
Canadian National Railway Company price | Canadian National Railway Company Quote
The company’s ability to meet the significant rise in volumes is a result of its investments in track, locomotives and railcars, including the purchase of more than 2,500 new high-capacity grain-hopper cars.
This robust grain movement is aiding Canadian National’s top line despite overall freight volumes still being weak when compared with the 2019 levels. Notably, revenues from grain and fertilizers surged 19% year over year in the fourth quarter of 2020. This, combined with 12% rise in intermodal revenues, led to 2% increase in the top line. Despite freight softness, revenues from the grain and fertilizers sub-segment climbed 9% year over year in 2020.
Zacks Rank & Key Picks
Canadian National carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Transportation sector are ArcBest Corp. (ARCB - Free Report) , Saia, Inc. (SAIA - Free Report) and USA Truck, Inc. . While USA Truck sports a Zacks Rank #1 (Strong Buy), ArcBest and Saia carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest, Saia and USA Truck have rallied more than 100%, 70% and 39% in the past six months, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>