Canadian National Railway (NYSE:CNI) PT Lowered to $119.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target cut by Evercore ISI from $128.00 to $119.00 in a research note released on Wednesday, Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

Several other analysts have also weighed in on the company. Stephens decreased their price target on Canadian National Railway from $127.00 to $122.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $130.00 to $125.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus cut their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a hold rating on the stock in a report on Wednesday, July 24th. Sanford C. Bernstein downgraded shares of Canadian National Railway from an outperform rating to a market perform rating and decreased their price objective for the stock from $146.25 to $130.67 in a research note on Monday, July 8th. Finally, National Bank Financial raised Canadian National Railway from a sector perform rating to an outperform rating in a research note on Thursday, June 27th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $132.76.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $116.43 on Wednesday. The firm has a fifty day simple moving average of $115.71 and a two-hundred day simple moving average of $121.74. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $73.32 billion, a P/E ratio of 18.57, a PEG ratio of 2.50 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the prior year, the business posted $1.31 EPS. The company’s revenue was up 6.7% on a year-over-year basis. On average, analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a $0.614 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.11%. Canadian National Railway’s dividend payout ratio is currently 39.08%.

Hedge Funds Weigh In On Canadian National Railway

A number of large investors have recently bought and sold shares of CNI. Wells Fargo & Company MN boosted its position in Canadian National Railway by 61.1% during the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after purchasing an additional 61,498 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in Canadian National Railway by 1.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after acquiring an additional 17,083 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Canadian National Railway in the second quarter valued at approximately $134,096,000. Koshinski Asset Management Inc. purchased a new position in Canadian National Railway in the first quarter worth $627,000. Finally, Virtu Financial LLC acquired a new position in shares of Canadian National Railway during the fourth quarter worth $816,000. Institutional investors 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.