Canadian National Railway (NYSE:CNI) Given New $126.00 Price Target at Citigroup

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

Several other analysts have also recently issued reports on CNI. Susquehanna dropped their target price on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a research note on Monday, October 7th. Finally, Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $0.30 during mid-day trading on Thursday, reaching $111.12. The company’s stock had a trading volume of 195,267 shares, compared to its average volume of 1,110,041. The stock has a 50-day moving average of $116.02 and a two-hundred day moving average of $119.72. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The stock has a market capitalization of $69.98 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 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 the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. Canadian National Railway’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, equities research analysts anticipate that Canadian National Railway will post 5.5 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Institutional Trading of Canadian National Railway

Institutional investors and hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC grew its holdings in shares of Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares in the last quarter. Smithbridge Asset Management Inc. DE boosted its position in Canadian National Railway by 5.2% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 31,139 shares of the transportation company’s stock valued at $3,648,000 after buying an additional 1,539 shares during the period. Farrow Financial Inc. boosted its position in Canadian National Railway by 14.7% in the 3rd quarter. Farrow Financial Inc. now owns 18,440 shares of the transportation company’s stock valued at $2,160,000 after buying an additional 2,361 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of Canadian National Railway by 11,610.3% in the third quarter. Pathway Financial Advisers LLC now owns 178,114 shares of the transportation company’s stock worth $20,866,000 after acquiring an additional 176,593 shares in the last quarter. Finally, Forsta AP Fonden increased its position in shares of Canadian National Railway by 14.6% during the third quarter. Forsta AP Fonden now owns 139,200 shares of the transportation company’s stock worth $16,318,000 after acquiring an additional 17,700 shares during the period. 80.74% of the stock is currently owned by hedge funds and other 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.