Canadian National Railway (NYSE:CNI) Reaches New 1-Year High – Here’s Why

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $115.98 and last traded at $115.87, with a volume of 258152 shares changing hands. The stock had previously closed at $114.24.

Wall Street Analysts Forecast Growth

CNI has been the topic of several analyst reports. Citigroup lifted their target price on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Evercore lowered their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $122.00 in a research report on Thursday, April 9th. Finally, Stephens reduced their price objective on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $122.04.

Canadian National Railway Trading Up 0.3%

The business has a fifty day simple moving average of $108.88 and a 200 day simple moving average of $103.53. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a market cap of $72.28 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.23 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business earned $1.85 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.1%. Canadian National Railway’s dividend payout ratio is 48.73%.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the business. Minot DeBlois Advisors LLC grew its stake in Canadian National Railway by 2.0% in the 4th quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock valued at $507,000 after acquiring an additional 103 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Canadian National Railway by 19.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 103 shares during the last quarter. Tacita Capital Inc grew its stake in Canadian National Railway by 0.6% in the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock valued at $1,960,000 after acquiring an additional 109 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its stake in Canadian National Railway by 1.5% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock valued at $715,000 after acquiring an additional 110 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Canadian National Railway by 10.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 113 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Company Profile

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.