Short Interest in Canadian National Railway Company (NYSE:CNI) Decreases By 53.6%

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 2,806,164 shares, a decline of 53.6% from the June 15th total of 6,044,119 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 1,658,988 shares, the short-interest ratio is presently 1.7 days.

Canadian National Railway Trading Down 0.3%

NYSE:CNI traded down $0.36 on Tuesday, hitting $124.95. The stock had a trading volume of 181,868 shares, compared to its average volume of 1,587,136. The company has a fifty day moving average price of $117.25 and a two-hundred day moving average price of $108.91. Canadian National Railway has a 1-year low of $90.74 and a 1-year high of $126.12. 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 stock has a market cap of $75.72 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.35 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. Equities research analysts expect that Canadian National Railway will post 5.72 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is presently 48.55%.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNI. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth $27,000. MidFirst Bank purchased a new stake in Canadian National Railway in the 4th quarter valued at about $31,000. Curio Wealth LLC purchased a new stake in Canadian National Railway in the 4th quarter valued at about $31,000. 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. Finally, MBM Wealth Consultants LLC acquired a new position in Canadian National Railway in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup increased their price target on Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Weiss Ratings lowered Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Royal Bank Of Canada upped their target price on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Stephens raised Canadian National Railway to a “hold” rating in a research note on Wednesday, July 8th. Finally, National Bank Financial set a $124.00 price target on Canadian National Railway in a report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.12.

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.