Canadian National Railway (NYSE:CNI) Raised to Buy at Citigroup

Citigroup upgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has $130.00 target price on the transportation company’s stock, up from their prior target price of $126.00.

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 dropped their price objective for the company from $129.00 to $122.00 in a report on Friday, October 4th. Barclays increased their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research report on Monday, October 7th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $125.48.

Canadian National Railway Stock Down 0.1 %

Shares of Canadian National Railway stock opened at $111.57 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. Canadian National Railway has a 52-week low of $107.54 and a 52-week high of $134.02. The company has a market capitalization of $70.16 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.52 and a beta of 0.89. The company has a 50 day moving average of $114.58 and a 200 day moving average of $118.03.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. As a group, research analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Institutional Trading of Canadian National Railway

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway in the second quarter valued at about $26,000. Addison Advisors LLC raised its stake in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Coastline Trust Co purchased a new stake in shares of Canadian National Railway in the third quarter valued at approximately $34,000. Finally, ORG Partners LLC acquired a new position in Canadian National Railway during the second quarter worth $34,000. 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.