Canadian National Railway (NYSE:CNI) Price Target Raised to $142.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price raised by Susquehanna from $140.00 to $142.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group began coverage on Canadian National Railway in a research report on Monday, April 8th. They set a hold rating and a $130.00 target price on the stock. TD Securities lowered shares of Canadian National Railway from a buy rating to a hold rating in a research note on Monday, January 8th. Stephens raised their price target on shares of Canadian National Railway from $122.00 to $135.00 and gave the company an equal weight rating in a research note on Thursday, January 4th. Barclays raised their price target on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. Finally, Citigroup raised their target price on shares of Canadian National Railway from $121.00 to $128.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Eighteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of Hold and a consensus target price of $149.05.

Canadian National Railway Stock Performance

Shares of CNI opened at $125.30 on Wednesday. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The stock has a fifty day moving average price of $129.49 and a 200-day moving average price of $122.34. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.84. The firm has a market cap of $80.03 billion, a PE ratio of 19.98, a P/E/G ratio of 2.18 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. Equities research analysts predict that Canadian National Railway will post 5.92 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.00%. Canadian National Railway’s payout ratio is 40.03%.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently made changes to their positions in CNI. Norges Bank purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at about $769,556,000. Canoe Financial LP increased its stake in shares of Canadian National Railway by 8,401.1% during the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after acquiring an additional 3,960,049 shares during the period. Capital International Investors increased its stake in shares of Canadian National Railway by 63.2% during the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after acquiring an additional 2,951,506 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Canadian National Railway during the third quarter worth about $273,243,000. Finally, Wellington Management Group LLP increased its stake in shares of Canadian National Railway by 9.6% during the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after acquiring an additional 1,907,938 shares during the period. 80.74% of the stock is owned by hedge funds and other 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.