Citigroup Upgrades Canadian National Railway (NYSE:CNI) to Buy

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday,Finviz reports. The firm presently has a $130.00 price objective on the transportation company’s stock, up from their previous price objective of $126.00. Citigroup’s price objective indicates a potential upside of 16.41% from the company’s current price.

Other analysts have also issued reports about the stock. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Barclays increased their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Stephens reiterated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Trading Up 0.8 %

Canadian National Railway stock opened at $111.67 on Tuesday. The firm has a 50 day moving average of $114.58 and a 200 day moving average of $118.03. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $70.22 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.49 and a beta of 0.89. Canadian National Railway has a 12-month low of $107.54 and a 12-month 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 the consensus estimate of $1.70 by $0.02. The business 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 23.62%. The business’s 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. As a group, research analysts predict that Canadian National Railway will post 5.52 earnings per share for the current year.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors have recently added to or reduced their stakes in the stock. King Luther Capital Management Corp increased its holdings in shares of Canadian National Railway by 2.3% during the 3rd quarter. King Luther Capital Management Corp now owns 8,932 shares of the transportation company’s stock worth $1,046,000 after acquiring an additional 200 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Canadian National Railway by 17.7% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 494,511 shares of the transportation company’s stock valued at $57,900,000 after acquiring an additional 74,278 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Canadian National Railway by 7.1% in the 3rd quarter. Moors & Cabot Inc. now owns 6,060 shares of the transportation company’s stock valued at $710,000 after buying an additional 400 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Canadian National Railway by 41.8% during the third quarter. Advisors Asset Management Inc. now owns 9,644 shares of the transportation company’s stock worth $1,130,000 after purchasing an additional 2,845 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after buying an additional 202,303 shares during the period. 80.74% of the stock is owned by 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.