News Formal

Expert sees growth opportunities for CN Rail stock despite weak earnings - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 50%

Business News News

Business Business Latest News,Business Business Headlines

Investors who pushed Canadian National Railway Company shares higher on Wednesday in spite of the company’s weaker-than-expected earning could be taking a long-term view of the stock’s potential, according to one investment expert.

The company’s share price in comparison to its peers may have been one factor driving investors’ interest, Ben Nolan, managing director at Stifel Financial, told BNN Bloomberg in a TV interview on Wednesday.

Some factors that weighed on CN this quarter were no fault of the company, Nolan explained, such as the B.C. port strike and the Nova Scotia floods. Future profitability is another factor that might be keeping investors optimistic on the company’s stock, Nolan added.by 12 per cent to $1.17 billion in the second quarter from $1.33 billion a year earlier, the commitment to future earnings was made clear.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Port strike will take two months for recovery, CN says, as wildfires dent earningsCanadian National Railway Co. said Tuesday it now expects flat to slightly negative adjusted diluted earnings in 2023.
Source: calgarysun - 🏆 63. / 52 Read more »

CN Rail lowers earnings forecast amid falling profits, weaker demand - BNN BloombergCanadian National Railway Co. lowered its earnings forecast for the year amid falling profits and revenue last quarter and a sluggish economic environment.
Source: BNNBloomberg - 🏆 83. / 50 Read more »