Canadian National Railway (NYSE:CNI) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research note issued to investors on Friday,Benzinga reports. They currently have a $174.00 price target on the transportation company’s stock.

Several other analysts also recently weighed in on the stock. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stephens reissued an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. The Goldman Sachs Group lowered their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company cut their target price on shares of Canadian National Railway from $133.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.94.

Canadian National Railway Trading Down 2.5 %

Shares of CNI stock opened at $99.86 on Friday. The business has a 50-day moving average price of $106.41 and a two-hundred day moving average price of $112.50. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a market cap of $62.83 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Equities analysts anticipate that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Coastline Trust Co bought a new position in shares of Canadian National Railway in the 3rd quarter worth about $34,000. Reston Wealth Management LLC purchased a new position in Canadian National Railway during the 3rd quarter valued at about $41,000. Sanctuary Wealth Management L.L.C. bought a new stake in Canadian National Railway during the third quarter worth about $56,000. Finally, Grove Bank & Trust grew its holdings in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the period. 80.74% of the stock is currently owned by institutional investors.

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.