Canadian National Railway (NYSE:CNI) PT Lowered to $129.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price reduced by Bank of America from $132.00 to $129.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the transportation company’s stock.

A number of other research firms have also recently issued reports on CNI. Stifel Nicolaus dropped their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a hold rating on the stock in a research note on Wednesday, July 24th. Barclays cut their target price on shares of Canadian National Railway from $128.00 to $120.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company decreased their price target on shares of 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. Susquehanna cut their price objective on Canadian National Railway from $135.00 to $130.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Finally, National Bank Financial upgraded Canadian National Railway from a sector perform rating to an outperform rating in a research report on Thursday, June 27th. Sixteen equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $137.35.

Canadian National Railway Trading Down 0.5 %

Shares of Canadian National Railway stock opened at $118.77 on Wednesday. The firm has a 50-day simple moving average of $116.19 and a two-hundred day simple moving average of $122.55. 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 fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a market cap of $74.79 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88.

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

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.07%. Canadian National Railway’s payout ratio is 39.08%.

Institutional Trading of Canadian National Railway

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in Canadian National Railway in the fourth quarter valued at approximately $256,000. Dimensional Fund Advisors LP raised its position in Canadian National Railway by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,236 shares of the transportation company’s stock valued at $126,035,000 after purchasing an additional 42,545 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Canadian National Railway by 2.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,371 shares of the transportation company’s stock valued at $1,554,000 after purchasing an additional 271 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Canadian National Railway by 10.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,222 shares of the transportation company’s stock worth $1,661,000 after purchasing an additional 1,224 shares during the period. Finally, Vise Technologies Inc. increased its position in shares of Canadian National Railway by 27.9% during the 4th quarter. Vise Technologies Inc. now owns 3,201 shares of the transportation company’s stock worth $402,000 after purchasing an additional 698 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.