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Canadian National (CNI) Hits Grain Movement Record in March
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Canadian National Railway Company’s (CNI - Free Report) grain movement hit a record for the 13th consecutive month in March 2021. The company shipped 2.95 million metric tonnes (“MMT”) of western Canadian grain in the month, beating its previous record of 2.74 MMT set last year. It was also 19% higher than the three-year average of 2.47 MMT.
During the first quarter of 2021, the company moved 8.2 MMT of Canadian grain, breaking the previous record of 7 MMT set in the first quarter of 2017. It was also 25% higher than the three-year average of 6.5 MMT. This strong performance despite difficult operating conditions in February is commendable.
Canadian National has transported 22.7 MMT of Canadian grain so far during the 2020-2021 crop year. This exceeds the previous year to-date record of 19.1 MMT set in the 2018-19 crop year, by 19%.
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. These investments, since 2018, total more than $10 billion.
Zacks Rank & Key Picks
Canadian National carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Navios Maritime Partners LP (NMM - Free Report) , USA Truck, Inc. and Saia, Inc. (SAIA - Free Report) . While USA Truck sports a Zacks Rank #1 (Strong Buy), Navios Maritime Partners and Saia carry a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Shares of Navios Maritime Partners, USA Truck and Saia have rallied more than 200%, 100% and 75% in the past six months respectively.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Canadian National (CNI) Hits Grain Movement Record in March
Canadian National Railway Company’s (CNI - Free Report) grain movement hit a record for the 13th consecutive month in March 2021. The company shipped 2.95 million metric tonnes (“MMT”) of western Canadian grain in the month, beating its previous record of 2.74 MMT set last year. It was also 19% higher than the three-year average of 2.47 MMT.
During the first quarter of 2021, the company moved 8.2 MMT of Canadian grain, breaking the previous record of 7 MMT set in the first quarter of 2017. It was also 25% higher than the three-year average of 6.5 MMT. This strong performance despite difficult operating conditions in February is commendable.
Canadian National has transported 22.7 MMT of Canadian grain so far during the 2020-2021 crop year. This exceeds the previous year to-date record of 19.1 MMT set in the 2018-19 crop year, by 19%.
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. These investments, since 2018, total more than $10 billion.
Zacks Rank & Key Picks
Canadian National carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Navios Maritime Partners LP (NMM - Free Report) , USA Truck, Inc. and Saia, Inc. (SAIA - Free Report) . While USA Truck sports a Zacks Rank #1 (Strong Buy), Navios Maritime Partners and Saia carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Navios Maritime Partners, USA Truck and Saia have rallied more than 200%, 100% and 75% in the past six months respectively.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>