Canadian National Railway (NYSE:CNI) Stock Rating Upgraded by Veritas

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by analysts at Veritas from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Evercore ISI decreased their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a report on Monday, October 7th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group reduced their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Stock Up 0.5 %

CNI stock opened at $111.37 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The stock has a market capitalization of $70.14 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.50 and a beta of 0.88. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The business has a 50-day moving average of $116.02 and a 200-day moving average of $119.72.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds have recently added to or reduced their stakes in the business. GQG Partners LLC raised its stake in shares of Canadian National Railway by 0.8% during the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after acquiring an additional 93 shares during the last quarter. Choreo LLC raised its position in Canadian National Railway by 1.5% during the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after purchasing an additional 97 shares during the last quarter. Grove Bank & Trust raised its position in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Canadian National Railway by 2.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after buying an additional 100 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Canadian National Railway by 1.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after buying an additional 102 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

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.