Citigroup Cuts Canadian National Railway (NYSE:CNI) Price Target to $119.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price trimmed by Citigroup from $120.00 to $119.00 in a research report sent to investors on Thursday morning, MarketBeat reports. The firm currently has a buy rating on the transportation company’s stock.

Other equities research analysts have also issued research reports about the company. CIBC upgraded Canadian National Railway from a “neutral” rating to an “outperformer” rating and boosted their price objective for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Wells Fargo & Company lowered their price objective on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. Bank of America dropped their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Finally, Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.27.

Canadian National Railway Stock Down 0.5%

Shares of NYSE CNI opened at $98.95 on Thursday. The company has a market cap of $60.80 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.05 and a beta of 0.96. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 0.92. Canadian National Railway has a 12 month low of $90.74 and a 12 month high of $108.75. The stock has a 50-day moving average price of $96.91 and a two-hundred day moving average price of $96.74.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.28 by $0.05. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th were paid a dividend of $0.8875 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, December 9th. Canadian National Railway’s payout ratio is 48.01%.

Institutional Trading of Canadian National Railway

Large investors have recently bought and sold shares of the business. TD Asset Management Inc lifted its holdings in Canadian National Railway by 2.3% during the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after acquiring an additional 273,974 shares during the period. Founders Capital Management LLC purchased a new stake in shares of Canadian National Railway during the 2nd quarter valued at $3,335,000. Westerkirk Capital Inc. purchased a new stake in shares of Canadian National Railway during the 2nd quarter valued at $3,448,000. Cardinal Capital Management Inc. raised its stake in shares of Canadian National Railway by 3.1% during the 2nd quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock worth $76,178,000 after purchasing an additional 22,035 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Canadian National Railway by 9.8% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock worth $83,646,000 after buying an additional 71,364 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.