Citigroup Raises Canadian National Railway (NYSE:CNI) Price Target to $126.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target hoisted by Citigroup from $125.00 to $126.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

CNI has been the topic of several other reports. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Sanford C. Bernstein dropped their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group cut their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Stock Up 0.3 %

Shares of Canadian National Railway stock traded up $0.30 during trading on Thursday, hitting $111.12. 195,267 shares of the stock were exchanged, compared to its average volume of 1,110,041. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The firm’s 50-day moving average price is $116.02 and its 200 day moving average price is $119.72. The stock has a market cap of $69.98 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during 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%. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. As a group, analysts forecast that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Institutional Trading of Canadian National Railway

Hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its holdings in Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after purchasing an additional 2,163,820 shares in the last quarter. Capital International Investors raised its stake in shares of Canadian National Railway by 18.1% during the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after buying an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at approximately $134,096,000. Finally, 1832 Asset Management L.P. grew its holdings in Canadian National Railway by 7.8% during the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after acquiring an additional 674,536 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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.