Canadian National Railway (NYSE:CNI) Given New $116.00 Price Target at Evercore ISI

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target lowered by Evercore ISI from $119.00 to $116.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the transportation company’s stock.

A number of other research firms have also recently commented on CNI. Susquehanna lowered their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. Sanford C. Bernstein lowered their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Barclays upped their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Finally, Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Canadian National Railway has a consensus rating of “Hold” and an average target price of $125.10.

Canadian National Railway Stock Performance

CNI stock opened at $111.99 on Wednesday. The business’s fifty day moving average is $116.02 and its 200-day moving average is $119.72. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a market cap of $70.53 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. Equities research analysts forecast that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Hedge Funds Weigh In On Canadian National Railway

Hedge funds have recently modified their holdings of the stock. Manning & Napier Advisors LLC bought a new position in shares of Canadian National Railway in the 2nd quarter valued at about $134,096,000. Koshinski Asset Management Inc. bought a new position in shares of Canadian National Railway in the 1st quarter valued at about $627,000. Mediolanum International Funds Ltd acquired a new stake in Canadian National Railway in the 1st quarter valued at about $4,451,000. Sumitomo Life Insurance Co. acquired a new stake in Canadian National Railway in the 2nd quarter valued at about $1,321,000. Finally, Sterling Investment Management LLC lifted its stake in Canadian National Railway by 17.2% in the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after purchasing an additional 5,329 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.