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 cut by Evercore ISI from $119.00 to $116.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

CNI has been the subject of several other research reports. Citigroup assumed coverage on Canadian National Railway in a research report on Wednesday, October 9th. They set a “neutral” rating and a $125.00 price objective for the company. Stifel Nicolaus cut their price objective on Canadian National Railway from $133.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Sanford C. Bernstein cut their price objective on 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. The Goldman Sachs Group lowered their price target on 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. Finally, Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $125.10.

Canadian National Railway Price Performance

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

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter 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, equities research analysts predict that Canadian National Railway will post 5.5 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.18%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Institutional Investors Weigh In On Canadian National Railway

Large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway during the 2nd quarter worth $26,000. Addison Advisors LLC lifted its holdings in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares in the last quarter. ORG Partners LLC acquired a new position in Canadian National Railway during the 2nd quarter worth $34,000. Finally, Daiwa Securities Group Inc. acquired a new position in Canadian National Railway during the 1st quarter worth $64,000. 80.74% of the stock is currently owned by institutional investors.

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.