Canadian National Railway (NYSE:CNI) Price Target Raised to $121.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective upped by Barclays from $120.00 to $121.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Several other research firms have also commented on CNI. National Bank Financial upgraded shares of Canadian National Railway from a sector perform rating to an outperform rating in a research note on Thursday, June 27th. Sanford C. Bernstein downgraded Canadian National Railway from an outperform rating to a market perform rating and decreased their price target for the company from $146.25 to $130.67 in a research report on Monday, July 8th. Benchmark reissued a hold rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Bank of America reduced their price objective on Canadian National Railway from $132.00 to $129.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lowered their target price on Canadian National Railway from $130.00 to $125.00 and set an equal weight rating on the stock in a research note on Wednesday, July 24th. Sixteen equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $132.76.

Canadian National Railway Stock Down 0.3 %

Shares of NYSE:CNI opened at $116.41 on Wednesday. The business’s 50 day moving average is $115.71 and its 200 day moving average is $121.79. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a market cap of $73.30 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.50 and a beta of 0.88. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. Canadian National Railway’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. On average, sell-side analysts forecast that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a $0.614 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.11%. Canadian National Railway’s dividend payout ratio is currently 39.08%.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently modified their holdings of CNI. Wells Fargo & Company MN grew its stake in Canadian National Railway by 61.1% during the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after acquiring an additional 61,498 shares in the last quarter. Royal London Asset Management Ltd. grew its position in shares of Canadian National Railway by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after purchasing an additional 17,083 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Canadian National Railway in the second quarter worth $134,096,000. Koshinski Asset Management Inc. bought a new position in shares of Canadian National Railway in the first quarter worth $627,000. Finally, Virtu Financial LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter worth $816,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.