Canadian National Railway (NYSE:CNI) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target increased by research analysts at Canadian Imperial Bank of Commerce from C$164.00 to C$182.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperformer” rating on the transportation company’s stock.

CNI has been the topic of a number of other reports. Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $117.00 to $122.00 in a research report on Thursday, April 9th. Citigroup lifted their price objective on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays upped their target price on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Sanford C. Bernstein lifted their price target on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.04.

Canadian National Railway Price Performance

NYSE CNI traded down $0.32 during mid-day trading on Tuesday, hitting $120.49. The stock had a trading volume of 1,559,300 shares, compared to its average volume of 1,604,120. The firm’s 50 day moving average is $111.96 and its 200 day moving average is $104.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The stock has a market capitalization of $73.23 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.31 and a beta of 0.96. Canadian National Railway has a twelve month low of $90.74 and a twelve month high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $1.85 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts forecast that Canadian National Railway will post 5.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canadian National Railway

Several large investors have recently modified their holdings of CNI. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth $27,000. Costello Asset Management INC increased its position in shares of Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Curio Wealth LLC purchased a new stake in Canadian National Railway in the 4th quarter valued at about $31,000. MidFirst Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $31,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.