Canadian National Railway (NYSE:CNI) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a neutral rating to an overweight rating in a research note issued to investors on Tuesday, Marketbeat reports.

Several other brokerages have also weighed in on CNI. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their target price for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and an average target price of $125.86.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $104.37 on Tuesday. 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 business’s 50 day moving average price is $106.84 and its two-hundred day moving average price is $112.77. The company has a market cap of $65.66 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Canadian National Railway has a twelve month low of $98.96 and a twelve month high of $134.02.

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

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.34%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Institutional Trading of Canadian National Railway

A number of institutional investors and hedge funds have recently made changes to their positions in CNI. National Bank of Canada FI raised its position in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Canadian National Railway in the 3rd quarter valued at $159,907,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Canadian National Railway by 4,614.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after buying an additional 1,307,689 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after buying an additional 674,536 shares in 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.