CN Rail, Agrium reach 52-week high

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| January 25, 2013


On Friday, Agrium Inc. (TSX: T.AGU, Stock Forum) briefly hit $115.44 before closing at $115.36, for an increase of 1.28%.

The agricultural products retailer raised its fourth-quarter earnings estimate, after better grain and oilseed prices boosted demand for fertilizer products.

The company expects its 2012 fourth quarter earnings to be slightly above $2.00 per diluted share. Agrium's previously announced guidance was $1.50 to $1.90 per diluted share.

The second company to make the 52-week-high list was Canadian National Railway Co. (TSX: T.CNR, Stock Forum). The stock hit a new peak of $96.20, before closing at $95.55, for an increase of 1%.

On Jan. 22, the railway company said its profit increased to $610 million in the fourth quarter, or $1.41 per diluted share, with record revenue and carloads.

The company’s board of directors also approved a 15% increase in the company's quarterly cash dividend.

A quarterly dividend of $0.43 per common share will be paid on March 28, 2013, to shareholders of record at the close of business on March 7, 2013.



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