The Goldman Sachs Group, Inc. assumed coverage on shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $85.00 price objective on the transportation company’s stock.
Other equities research analysts have also issued reports about the company. Cowen and Company reissued a buy rating and set a $83.00 price target on shares of Canadian National Railway in a research report on Sunday, September 24th. Desjardins raised Canadian National Railway from a hold rating to a buy rating in a research report on Wednesday, October 25th. Stifel Nicolaus reissued a hold rating and set a $89.00 price target on shares of Canadian National Railway in a research report on Friday, October 6th. Zacks Investment Research lowered Canadian National Railway from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Finally, BidaskClub raised Canadian National Railway from a sell rating to a hold rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Canadian National Railway presently has a consensus rating of Hold and an average target price of $79.67.
Shares of Canadian National Railway (NYSE:CNI) opened at $80.01 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 0.61. The stock has a market capitalization of $59,561.16, a P/E ratio of 20.68, a P/E/G ratio of 2.15 and a beta of 1.11. Canadian National Railway has a 52-week low of $63.41 and a 52-week high of $84.48.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.3304 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, December 7th. Canadian National Railway’s dividend payout ratio (DPR) is 33.85%.
Canadian National Railway declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 24th that allows the company to buyback 31,000,000 outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently modified their holdings of CNI. Hall Laurie J Trustee increased its holdings in shares of Canadian National Railway by 4.1% during the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 50 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Canadian National Railway by 0.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 12 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Canadian National Railway during the first quarter valued at $123,000. Proficio Capital Partners LLC increased its holdings in shares of Canadian National Railway by 0.8% during the second quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 15 shares during the period. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of Canadian National Railway during the second quarter valued at $146,000. 54.42% of the stock is currently owned by institutional investors.
About Canadian National Railway
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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