Canadian National Railway (CNR) is perennially overvalued. I, therefore, pay very little attention to it despite it being my 19th largest holding at the time of my 2023 Year End FFJ Portfolio Review. Railroads are attractive in that the barriers to entry are so high; it is cost prohibitive to establish a new Class 1 [...]
In my January 23, 2022 Union Pacific (UNP) post, I determined that I would patiently wait for a better valuation before adding to my position in one of the 'Side' accounts within the FFJ Portfolio. With the release of Q4 and FY2021 results and FY2022 guidance on January 25, my analysis leads me to conclude [...]
Introduction A Dividend Champion, defined as a company that has increased its dividend at least 25 consecutive years regardless of whether it is included in the S&P 500 or not, can be a good potential investment to create long-term wealth. Investors, however, must not lose sight of the company's valuation when acquiring shares. In this [...]
I view the Canadian National Railway Company (CNR) as a core long-term holding. This article looks at CNR's valuation based on Q2 2019 results released July 23, 2019 and FY2019 guidance provided at the June 3 - 4 2019 Investor Day. Summary I view CNR as the premier Class 1 North American railroad in that [...]
I view the Canadian National Railway Company (CNR) as a core long-term holding. CNR's current valuation relative to 2011 - 2018 levels, however, suggests that shares are currently richly valued. If you are in agreement then the two conservative option trades presented in this article might be of interest to you. Summary The number of [...]
Summary CNR has just released its Q4 and FY2018 results which reflect remarkable turnaround from early 2018. A ~18% increase in CNR’s quarterly dividend has just been announced together with details of a new normal course issuer bid. While CNR is already one of my largest holdings I am open to acquiring additional shares in [...]
Canadian National Railway Company (TSX: CNR) released its Q3 2018 results on October 23rd and reported its highest quarterly revenue in its 99 year history. Net income, however, was hit by higher costs (there are very valid reasons for these higher costs). CNR has made an impressive turnaround in the last couple of quarters and [...]
Summary CNR released its Q3 results on October 23rd and reported quarterly revenue of $3.688B - the highest in its 99 year history. Net income was lower than in Q2 due to higher fuel prices, higher labour costs (increase in headcount and higher training costs for new employees), higher costs as a result of increased [...]
This company experienced a significant deterioration in its relationship with various segments of its customer base and key operating metrics over a few quarters were deteriorating. A new CEO was put in place and this company has taken significant steps to repair these damaged relationships. I added a few hundred shares when the market priced [...]
Summary CNR is one my top 15 holdings overall (within and outside the FFJ Portfolio). CNR’s relationship with certain segments of its customer base took a severe hit late 2017 and early 2018 which led to the ousting of CNR’s CEO. Under the new CEO, CNR has taken significant steps to repair these relationships of [...]
