Wells Fargo & Company Issues Pessimistic Forecast for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price dropped by equities research analysts at Wells Fargo & Company from $133.00 to $125.00 in a note issued to investors on Tuesday, Marketbeat reports. The firm presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 21.99% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Sanford C. Bernstein decreased their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.48.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $102.47 on Tuesday. The firm has a market capitalization of $64.47 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.43 and a beta of 0.91. Canadian National Railway has a one year low of $98.96 and a one year high of $134.02. The business has a fifty day simple moving average of $106.69 and a 200 day simple moving average of $112.70. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts expect that Canadian National Railway will post 5.31 EPS for the current year.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in shares of Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 229 shares during the period. Coastline Trust Co bought a new stake in Canadian National Railway during the 3rd quarter worth about $34,000. Reston Wealth Management LLC acquired a new position in Canadian National Railway during the 3rd quarter valued at about $41,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Canadian National Railway in the 3rd quarter valued at about $56,000. Finally, Grove Bank & Trust grew its position in shares of Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after buying an additional 97 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

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.