Canadian National Railway (NYSE:CNI) Sees Large Decline in Short Interest


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Canadian National Railway (NYSE:CNI) (TSE:CNR) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 1,580,000 shares, a drop of 16.4% from the March 31st total of 1,890,000 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 1,110,000 shares, the days-to-cover ratio is presently 1.4 days.

Shares of NYSE CNI traded down $0.40 during trading on Tuesday, reaching $108.71. 751,028 shares of the company traded hands, compared to its average volume of 1,077,128. The firm has a 50 day simple moving average of $114.89 and a 200-day simple moving average of $110.29. The company has a quick ratio of 0.85, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $77.17 billion, a PE ratio of 30.48, a P/E/G ratio of 3.36 and a beta of 0.83. Canadian National Railway has a 52-week low of $77.20 and a 52-week high of $119.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Sunday, April 25th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.01). The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Canadian National Railway had a net margin of 24.90% and a return on equity of 19.55%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. As a group, research analysts predict that Canadian National Railway will post 4.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 9th will be issued a $0.4964 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, June 8th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.83%. Canadian National Railway’s dividend payout ratio (DPR) is presently 41.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Canadian National Railway by 5.5% in the first quarter. Envestnet Asset Management Inc. now owns 616,384 shares of the transportation company’s stock worth $71,488,000 after buying an additional 32,319 shares during the last quarter. Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Canadian National Railway by 34.8% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 26,107 shares of the transportation company’s stock worth $3,028,000 after buying an additional 6,744 shares during the last quarter. White Pine Investment CO boosted its holdings in shares of Canadian National Railway by 1.6% in the first quarter. White Pine Investment CO now owns 45,448 shares of the transportation company’s stock worth $5,271,000 after buying an additional 715 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Canadian National Railway by 19.4% in the first quarter. Raymond James Trust N.A. now owns 4,865 shares of the transportation company’s stock worth $565,000 after buying an additional 791 shares during the last quarter. Finally, Trustcore Financial Services LLC boosted its holdings in shares of Canadian National Railway by 6.4% in the first quarter. Trustcore Financial Services LLC now owns 2,500 shares of the transportation company’s stock worth $290,000 after buying an additional 150 shares during the last quarter. 54.23% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on CNI shares. Cowen lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $116.00 to $107.00 in a research note on Wednesday, January 27th. Benchmark started coverage on shares of Canadian National Railway in a research note on Wednesday, January 27th. They issued a “hold” rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Canadian National Railway from $110.00 to $127.00 in a research note on Monday, January 11th. Barclays upgraded shares of Canadian National Railway from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, January 13th. Finally, Vertical Research began coverage on shares of Canadian National Railway in a research note on Friday, March 26th. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Canadian National Railway presently has a consensus rating of “Hold” and a consensus price target of $128.94.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

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