Canadian National Railway (NYSE:CNI) Stock Rating Cut to Hold at Raymond James Financial

Raymond James Financial lowered shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a moderate buy rating to a hold rating in a research note published on Monday morning,Zacks reports.

A number of other analysts also recently commented on CNI. Wells Fargo & Company upped their target price on Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Bank of America reduced their price target on Canadian National Railway from $146.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Susquehanna decreased their price target on Canadian National Railway from $142.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Finally, Citigroup lowered their price objective on Canadian National Railway from $151.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.49.

Canadian National Railway Trading Down 1.4%

Shares of Canadian National Railway stock opened at $120.12 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The firm has a fifty day moving average price of $122.23 and a 200 day moving average price of $119.26. Canadian National Railway has a 1 year low of $90.74 and a 1 year high of $131.55. The stock has a market cap of $72.38 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

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

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th were given a dividend of C$0.92 per share. The ex-dividend date was Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.0%. Canadian National Railway’s dividend payout ratio (DPR) is 46.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNI. Pin Oak Investment Advisors Inc. acquired a new position in Canadian National Railway during the second quarter worth $27,000. MidFirst Bank purchased a new position in Canadian National Railway during the fourth quarter valued at $31,000. MBM Wealth Consultants LLC purchased a new position in Canadian National Railway during the first quarter valued at $37,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Canadian National Railway in the first quarter valued at about $46,000. Finally, Quintet Private Bank Europe S.A. grew its position in shares of Canadian National Railway by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 500 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a transportation and logistics company that operates a major freight railway network across Canada and the United States. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

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