Barclays Increases Canadian National Railway (NYSE:CNI) Price Target to $121.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target hoisted by Barclays from $120.00 to $121.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

A number of other equities analysts have also weighed in on the company. Scotiabank raised Canadian National Railway from a hold rating to a strong-buy rating in a research note on Wednesday, July 10th. Susquehanna dropped their price objective on shares of Canadian National Railway from $135.00 to $130.00 and set a neutral rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus cut their target price on Canadian National Railway from $137.00 to $133.00 and set a hold rating for the company in a research note on Wednesday, July 24th. Sanford C. Bernstein lowered shares of Canadian National Railway from an outperform rating to a market perform rating and reduced their price objective for the company from $146.25 to $130.67 in a report on Monday, July 8th. Finally, Stephens lowered their target price on shares of Canadian National Railway from $127.00 to $122.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Sixteen research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway currently has a consensus rating of Hold and an average target price of $132.76.

Canadian National Railway Trading Down 0.3 %

Shares of CNI stock opened at $116.43 on Wednesday. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The stock’s fifty day moving average is $115.71 and its two-hundred day moving average is $121.74. The firm has a market capitalization of $73.32 billion, a P/E ratio of 18.57, a PEG ratio of 2.50 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. Research analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a dividend of $0.614 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.11%. Canadian National Railway’s dividend payout ratio (DPR) is 39.08%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors raised its stake in Canadian National Railway by 63.2% in the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after buying an additional 2,951,506 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after buying an additional 2,163,820 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after buying an additional 1,907,938 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after buying an additional 1,307,689 shares during the last quarter. Finally, FIL Ltd raised its stake in Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after acquiring an additional 1,280,726 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Canadian National Railway

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.