Citigroup Initiates Coverage on Canadian National Railway (NYSE:CNI)

Investment analysts at Citigroup initiated coverage on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a report released on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $125.00 price target on the transportation company’s stock. Citigroup’s price target points to a potential upside of 8.60% from the stock’s current price.

CNI has been the topic of a number of other research reports. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. Barclays upped their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $146.25 to $130.67 in a research report on Monday, July 8th. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research note on Monday. Finally, Stephens cut their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $128.59.

Canadian National Railway Stock Performance

CNI opened at $115.10 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The firm has a market cap of $72.79 billion, a PE ratio of 18.36, a P/E/G ratio of 2.41 and a beta of 0.88. The business has a fifty day simple moving average of $115.43 and a 200-day simple moving average of $120.87. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its 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 firm 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 revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. As a group, equities analysts predict that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Institutional Trading of Canadian National Railway

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian National Railway in the second quarter valued at approximately $26,000. GAMMA Investing LLC boosted its holdings in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares during the period. Addison Advisors LLC grew its position in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway during the 2nd quarter worth about $34,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway during the first quarter worth about $64,000. Institutional investors and hedge funds 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.