Canadian National Railway (NYSE:CNI) Stock Gets Price Target Cut from Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price cut by Citigroup from $151.00 to $143.00 in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on the company. Canadian Imperial Bank of Commerce increased their price objective on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a research report on Thursday, June 25th. National Bank Financial set a $124.00 target price on shares of Canadian National Railway in a research report on Thursday, June 25th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Wells Fargo & Company increased their price target on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.49.

Canadian National Railway Trading Up 0.8%

Canadian National Railway stock opened at $117.77 on Wednesday. Canadian National Railway has a 52 week low of $90.74 and a 52 week high of $131.55. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. The firm has a market capitalization of $71.15 billion, a PE ratio of 20.88, a PEG ratio of 2.09 and a beta of 0.96. The business’s 50-day simple moving average is $122.99 and its 200-day simple moving average is $118.36.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 EPS. Equities research analysts forecast that Canadian National Railway will post 5.80 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th were issued a dividend of C$0.92 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is presently 46.10%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in Canadian National Railway by 2.0% during the first quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company’s stock worth $934,488,000 after buying an additional 173,894 shares in the last quarter. Deutsche Bank AG increased its holdings in Canadian National Railway by 15.1% in the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after buying an additional 1,182,106 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Canadian National Railway by 2.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,165,148 shares of the transportation company’s stock valued at $609,582,000 after buying an additional 173,410 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Canadian National Railway by 2.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 4,297,955 shares of the transportation company’s stock valued at $514,643,000 after buying an additional 116,530 shares in the last quarter. Finally, Canoe Financial LP lifted its holdings in shares of Canadian National Railway by 17.2% during the 1st quarter. Canoe Financial LP now owns 3,426,466 shares of the transportation company’s stock worth $352,527,000 after acquiring an additional 502,424 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.