Canadian National Railway Co. (CNI) Stock Rating Reaffirmed by Scotiabank
Canadian National Railway Co. (NYSE:CNI)‘s stock had its “sector perform” rating restated by Scotiabank in a research report issued on Sunday. They currently have a $87.00 price objective on the stock. Scotiabank’s target price indicates a potential upside of 33.03% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Raymond James Financial Inc. raised shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 26th. BMO Capital Markets reissued an “outperform” rating and issued a $90.00 target price on shares of Canadian National Railway in a research report on Tuesday, July 26th. Citigroup Inc. reissued a “neutral” rating and issued a $62.00 target price on shares of Canadian National Railway in a research report on Saturday, June 18th. Barclays PLC lifted their price target on shares of Canadian National Railway from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, September 12th. Finally, TD Securities reaffirmed a “hold” rating and issued a $87.00 price target (up from $86.00) on shares of Canadian National Railway in a report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.49.
Canadian National Railway (NYSE:CNI) traded up 1.32% on Friday, reaching $65.40. 891,845 shares of the company traded hands. The company has a 50-day moving average price of $64.09 and a 200-day moving average price of $61.73. The company has a market capitalization of $50.46 billion, a P/E ratio of 19.03 and a beta of 1.12. Canadian National Railway has a 12 month low of $46.23 and a 12 month high of $66.22.
Canadian National Railway (NYSE:CNI) last released its earnings results on Monday, July 25th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $3 billion. Canadian National Railway had a net margin of 29.55% and a return on equity of 24.13%. The company’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS. Equities research analysts expect that Canadian National Railway will post $3.41 EPS for the current year.
The company also recently declared a dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a dividend of $0.288 per share. The ex-dividend date was Wednesday, September 7th. Canadian National Railway’s dividend payout ratio is currently 33.72%.
Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Canadian National Railway by 6.2% in the first quarter. Wellington Management Group LLP now owns 28,070,677 shares of the company’s stock worth $1,758,987,000 after buying an additional 1,639,473 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Canadian National Railway by 1.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 20,312,720 shares of the company’s stock worth $1,193,237,000 after buying an additional 372,120 shares in the last quarter. Vanguard Group Inc. raised its stake in Canadian National Railway by 11.7% in the second quarter. Vanguard Group Inc. now owns 13,341,784 shares of the company’s stock worth $787,965,000 after buying an additional 1,395,732 shares in the last quarter. FMR LLC raised its stake in Canadian National Railway by 16.3% in the second quarter. FMR LLC now owns 13,107,827 shares of the company’s stock worth $774,020,000 after buying an additional 1,839,225 shares in the last quarter. Finally, Jarislowsky Fraser Ltd raised its stake in Canadian National Railway by 12.2% in the second quarter. Jarislowsky Fraser Ltd now owns 11,982,848 shares of the company’s stock worth $735,332,000 after buying an additional 1,299,386 shares in the last quarter. Institutional investors and hedge funds own 56.06% of the company’s stock.
About Canadian National Railway
Canadian National Railway Co is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.
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