Scotiabank Issues Positive Forecast for Canadian National Railway (TSE:CNR) Stock Price

Canadian National Railway (TSE:CNR) (NYSE:CNI) had its price objective raised by analysts at Scotiabank from C$162.00 to C$194.00 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 8.05% from the stock’s current price.

A number of other analysts have also issued reports on the company. Raymond James Financial raised their target price on Canadian National Railway from C$170.00 to C$198.00 and gave the company an “outperform” rating in a report on Tuesday. Desjardins raised their price objective on shares of Canadian National Railway from C$163.00 to C$185.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Stephens raised shares of Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. TD increased their price target on shares of Canadian National Railway from C$171.00 to C$191.00 in a report on Friday, July 10th. Finally, Sanford C. Bernstein raised their price target on shares of Canadian National Railway from C$163.00 to C$196.00 in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$170.56.

Canadian National Railway Stock Up 3.0%

Shares of CNR traded up C$5.28 during midday trading on Thursday, reaching C$179.54. 418,799 shares of the stock were exchanged, compared to its average volume of 1,704,448. The company has a market cap of C$108.91 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 3.38 and a beta of 1.18. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 104.96. Canadian National Railway has a 12-month low of C$126.11 and a 12-month high of C$179.63. The firm has a 50 day simple moving average of C$164.57 and a 200-day simple moving average of C$151.00.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$1.80 earnings per share (EPS) for the quarter. The firm had revenue of C$4.38 billion during the quarter. Canadian National Railway had a net margin of 27.23% and a return on equity of 21.93%. Research analysts forecast that Canadian National Railway will post 8.2610275 EPS for the current year.

Insider Transactions at Canadian National Railway

In other Canadian National Railway news, Director Justin M. Howell purchased 350 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of C$152.74 per share, with a total value of C$53,459.00. Following the completion of the purchase, the director directly owned 350 shares in the company, valued at approximately C$53,459. This represents a ∞ increase in their position. Corporate insiders own 2.64% of the company’s stock.

About Canadian National Railway

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.