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Canadian National Railway Company (CNI) - free report >>
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Canadian National Railway Company (CNI) - free report >>
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Canadian National (CNI) to Invest C$445M in Alberta Province
Canadian National Railway Company (CNI - Free Report) has announced an investment plan worth C$445 million (as part of the company’s C$3 billion capital investment plan) for the current year in Alberta. This outlay across the province of Alberta is aimed at enhancing safety and fluidity of the railroad operator’s network by virtue of its focus, primarily on the areas of technology, capacity and infrastructure maintenance.
The investment will cater to the maintenance of bridges, culverts, signal systems and other track infrastructure throughout the province, which will strengthen the rail network. The capital program involves installation of approximately 182,000 new railroad ties, replacement of nearly 64 miles of rail and rebuilding of 38 road crossing surfaces.
Notably, this capital investment to move freight will reduce emissions and help in economic recovery from the pandemic-led crisis.
In sync with its objective to make investments to promote safety and fluidity, Canadian National also announced another investment plan worth C$15 million (also as part of the company’s C$3 billion capital investment plan) for 2021 across the province of New Brunswick.
Zacks Rank & Stocks to Consider
Canadian National currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector are Landstar System, Inc. (LSTR - Free Report) , Triton International Limited and Herc Holdings Inc. (HRI - Free Report) . Herc Holdings sports a Zacks Rank #1 (Strong Buy), while Triton and Landstar carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) expected earnings per share growth rate for Landstar, Triton and Herc Holdings is projected at 12%, 10% and 42.9%, respectively.
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