Stifel Nicolaus Increases Canadian National Railway (NYSE:CNI) Price Target to $132.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price boosted by Stifel Nicolaus from $130.00 to $132.00 in a report released on Wednesday, Benzinga reports. The firm currently has a hold rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on CNI. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Evercore ISI cut their price target on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Susquehanna cut their target price 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. Finally, Sanford C. Bernstein lowered their price target 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $125.10.

Canadian National Railway Stock Performance

Shares of CNI opened at $111.99 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a 50-day simple moving average of $116.02 and a 200-day simple moving average of $119.72. The company has a market capitalization of $70.53 billion, a PE ratio of 17.95, a P/E/G ratio of 2.50 and a beta of 0.88.

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, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Equities research analysts predict that Canadian National Railway will post 5.5 earnings per share for the current fiscal 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 dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.18%. Canadian National Railway’s payout ratio is currently 39.26%.

Hedge Funds Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently bought and sold shares of CNI. Manning & Napier Advisors LLC acquired a new stake in shares of Canadian National Railway during the 2nd quarter worth $134,096,000. Koshinski Asset Management Inc. acquired a new position in shares of Canadian National Railway in the 1st quarter valued at about $627,000. Mediolanum International Funds Ltd purchased a new stake in shares of Canadian National Railway during the 1st quarter worth about $4,451,000. Sumitomo Life Insurance Co. purchased a new position in Canadian National Railway in the second quarter valued at approximately $1,321,000. Finally, Sterling Investment Management LLC raised its holdings in Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after buying an additional 5,329 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.