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

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target cut by stock analysts at Wells Fargo & Company from $117.00 to $110.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 14.81% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Argus raised shares of Canadian National Railway to a “hold” rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Susquehanna lowered their target price on Canadian National Railway from $120.00 to $115.00 and set a “positive” rating for the company in a research note on Thursday, September 25th. Royal Bank Of Canada lowered their price objective on Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $116.11.

Canadian National Railway Stock Performance

Shares of NYSE:CNI traded down $0.57 on Monday, reaching $95.81. The company’s stock had a trading volume of 79,382 shares, compared to its average volume of 1,530,161. The stock’s 50-day moving average is $94.36 and its two-hundred day moving average is $99.03. Canadian National Railway has a 52-week low of $91.07 and a 52-week high of $116.79. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The stock has a market capitalization of $59.48 billion, a P/E ratio of 18.44, a PEG ratio of 2.15 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 EPS. As a group, sell-side analysts forecast that Canadian National Railway will post 5.52 EPS for the current year.

Institutional Trading of Canadian National Railway

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Canadian National Railway by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock worth $2,493,163,000 after acquiring an additional 761,454 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Canadian National Railway by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after purchasing an additional 273,974 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Canadian National Railway by 6.0% in the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock worth $1,095,793,000 after buying an additional 636,147 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Canadian National Railway by 6.3% in the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock worth $834,129,000 after purchasing an additional 505,588 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Canadian National Railway by 26.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after purchasing an additional 1,408,978 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

About Canadian National Railway

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.