Canadian National Railway (NYSE:CNI) Short Interest Up 52.1% in February

Canadian National Railway (NYSE:CNI) (TSE:CNR) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,240,000 shares, an increase of 52.1% from the February 13th total of 2,130,000 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNI. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 10th. Bank of America lowered their price target on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their price objective on Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Price Performance

Canadian National Railway stock traded up $0.58 during trading hours on Monday, hitting $98.28. 824,130 shares of the stock were exchanged, compared to its average volume of 1,185,341. Canadian National Railway has a 12 month low of $93.64 and a 12 month high of $134.02. The business’s 50-day moving average is $101.77 and its two-hundred day moving average is $107.84. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The stock has a market capitalization of $61.76 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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 return on equity of 22.48% and a net margin of 26.09%. Equities research analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.6159 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio (DPR) is currently 47.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CNI. Quintet Private Bank Europe S.A. acquired a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC bought a new position in Canadian National Railway in the fourth quarter valued at approximately $30,000. Lee Danner & Bass Inc. acquired a new stake in Canadian National Railway during the 4th quarter worth $30,000. Addison Advisors LLC raised its position in shares of Canadian National Railway by 80.2% during the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 142 shares during the last quarter. Finally, Coastline Trust Co acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $34,000. 80.74% of the stock is currently owned by institutional investors.

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.