Canadian National Railway (NYSE:CNI) Price Target Lowered to $124.00 at The Goldman Sachs Group

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target dropped by The Goldman Sachs Group from $131.00 to $124.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “sell” rating on the transportation company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 7.73% from the stock’s previous close.

CNI has been the subject of several other research reports. Barclays increased their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Stifel Nicolaus cut their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Sanford C. Bernstein cut their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $128.59.

Canadian National Railway Trading Up 1.0 %

Shares of CNI opened at $115.10 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The firm has a market cap of $72.79 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.41 and a beta of 0.88. The business’s fifty day moving average is $115.43 and its 200-day moving average is $120.87.

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

Institutional Investors Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board boosted its stake in Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after acquiring an additional 2,163,820 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. Capital International Investors grew its stake in shares of Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after buying an additional 1,307,689 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Canadian National Railway during the 2nd quarter worth approximately $134,096,000. Institutional investors own 80.74% of the company’s stock.

About Canadian National Railway

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.