Canadian National Railway (NYSE:CNI) Sees Strong Trading Volume – Should You Buy?

Canadian National Railway (NYSE:CNI) (TSE:CNR) shares saw strong trading volume on Friday . 2,366,566 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 1,330,493 shares.The stock last traded at $105.74 and had previously closed at $105.57.

Analysts Set New Price Targets

CNI has been the subject of a number of research reports. Bank of America upped their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Barclays decreased their price objective on Canadian National Railway from $104.00 to $101.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group dropped their target price on Canadian National Railway from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Citigroup cut their price target on Canadian National Railway from $122.00 to $114.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.52.

Canadian National Railway Trading Down 0.6%

The business has a 50-day moving average of $101.11 and a 200 day moving average of $102.09. The stock has a market cap of $65.94 billion, a PE ratio of 20.49, a PEG ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 earnings per share. Equities research analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.8875 per share. This is a boost from Canadian National Railway’s previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. This represents a dividend yield of 2.47%. Canadian National Railway’s dividend payout ratio (DPR) is 50.29%.

Hedge Funds Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Militia Capital Partners LP purchased a new position in shares of Canadian National Railway in the 1st quarter worth $1,920,000. Intech Investment Management LLC raised its holdings in shares of Canadian National Railway by 112.5% in the 1st quarter. Intech Investment Management LLC now owns 49,745 shares of the transportation company’s stock worth $4,840,000 after purchasing an additional 26,331 shares during the period. Focus Partners Wealth raised its holdings in shares of Canadian National Railway by 11.1% in the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Canadian National Railway in the 1st quarter valued at about $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Canadian National Railway by 42.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 975,049 shares of the transportation company’s stock worth $95,028,000 after purchasing an additional 292,704 shares during the period. 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.