Royal Bank of Canada Cuts Canadian National Railway (NYSE:CNI) Price Target to $171.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target decreased by investment analysts at Royal Bank of Canada from $174.00 to $171.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 60.45% from the stock’s current price.

Several other equities analysts have also recently weighed in on CNI. Bank of America dropped their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Stephens reaffirmed an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Trading Up 1.3 %

NYSE:CNI traded up $1.37 during mid-day trading on Friday, hitting $106.57. 975,437 shares of the company’s stock were exchanged, compared to its average volume of 1,257,779. Canadian National Railway has a fifty-two week low of $98.96 and a fifty-two week high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $67.02 billion, a P/E ratio of 17.06, a PEG ratio of 2.41 and a beta of 0.91. The company has a 50 day simple moving average of $104.62 and a 200-day simple moving average of $111.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. As a group, research analysts expect that Canadian National Railway will post 5.12 earnings per share for the current year.

Hedge Funds Weigh In On Canadian National Railway

Hedge funds have recently modified their holdings of the company. National Bank of Canada FI increased its position in Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares during the period. Canoe Financial LP purchased a new position in shares of Canadian National Railway during the fourth quarter valued at about $216,943,000. Point72 Asset Management L.P. bought a new position in Canadian National Railway in the third quarter worth about $159,907,000. Wellington Management Group LLP lifted its holdings in Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in Canadian National Railway by 64.5% in the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock worth $174,813,000 after buying an additional 584,832 shares during the period. Hedge funds and other institutional investors 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.