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Investing.com - Canadian National Railway (NYSE:CNI) (TSX:CNR) maintained its Hold rating from Benchmark on Wednesday.
The railway operator reported second-quarter earnings per share of C$1.87, between the C$1.86 consensus estimate and Benchmark’s C$1.88 forecast.
Canadian National Railway lowered its full-year EPS growth target to mid-single to high-single digits from its previous projection of 10%-15% growth, citing increasing uncertainty around tariffs, trade, and the economic environment, along with a stronger-than-anticipated Canadian dollar.
The company revised its revenue ton mile (RTM) growth expectation to low-single digits, down from its prior low- to mid-single digit forecast, while discontinuing its high-single digit adjusted EPS CAGR target for 2024-2026.
Despite softer expectations for the remainder of the year, the company’s network is operating efficiently, with management focusing on right-sizing resources to align with volumes and driving efficiencies to reduce costs.
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