Zacks Investment Research upgraded shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) from a hold rating to a buy rating in a research note issued to investors on Tuesday, July 11th. The brokerage currently has $93.00 price target on the transportation company’s stock.

According to Zacks, “The improvement in the coal scenario is encouraging as headwinds pertaining to the commodity have been primarily responsible for the underperformance of Canadian National shares with respect to the Zacks categorized Transportation- Rail industry in the last one year. The stock has surged 36%, while the industry gained 37%. However, the stock has outperformed fellow railroad operator, Canadian Pacific, which has gained 20% over the last one year. We are also impressed by the company's initiatives to reward investors. Furthermore, the company's 2017 capital investment plan is a positive. The plan complements its efforts to promote safety and enhance productivity. Due to these tailwinds we expect the stock to perform well in the second quarter. Detailed results should be out on Jul 25. The Zacks Consensus Estimate has moved up 4.2% to $0.98 per share in the last month. The company's high debt levels, however, raise concerns.”

CNI has been the topic of several other reports. BidaskClub downgraded Canadian National Railway from a strong-buy rating to a buy rating in a research report on Thursday, June 22nd. Stifel Nicolaus upped their target price on Canadian National Railway from $74.00 to $79.00 and gave the company a hold rating in a research report on Thursday, June 15th. Credit Suisse Group reissued a neutral rating and issued a $78.00 target price (up from $77.00) on shares of Canadian National Railway in a research report on Sunday, May 28th. Cowen and Company upped their price target on shares of Canadian National Railway from $77.00 to $81.00 and gave the company an outperform rating in a report on Tuesday, April 25th. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $81.00 price target (up from $69.00) on shares of Canadian National Railway in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $80.56.

Canadian National Railway (NYSE CNI) traded up 0.67% during mid-day trading on Tuesday, reaching $79.85. The company had a trading volume of 539,034 shares. The stock has a market capitalization of $59.97 billion, a P/E ratio of 19.78 and a beta of 1.11. The stock has a 50 day moving average price of $81.24 and a 200-day moving average price of $75.14. Canadian National Railway has a 12-month low of $61.11 and a 12-month high of $84.48.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.3276 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s dividend payout ratio (DPR) is presently 31.77%.

Several institutional investors have recently bought and sold shares of the company. Aviva PLC boosted its position in Canadian National Railway by 13.0% in the second quarter. Aviva PLC now owns 477,737 shares of the transportation company’s stock worth $38,680,000 after buying an additional 54,870 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in Canadian National Railway by 9.2% in the second quarter. Virginia Retirement Systems ET AL now owns 541,800 shares of the transportation company’s stock worth $43,896,000 after buying an additional 45,700 shares during the last quarter. RiverPoint Capital Management LLC boosted its position in Canadian National Railway by 1.6% in the second quarter. RiverPoint Capital Management LLC now owns 297,086 shares of the transportation company’s stock worth $24,079,000 after buying an additional 4,799 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in Canadian National Railway by 2.9% in the second quarter. Tocqueville Asset Management L.P. now owns 119,400 shares of the transportation company’s stock worth $9,677,000 after buying an additional 3,400 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Canadian National Railway by 34.7% in the second quarter. William Blair Investment Management LLC now owns 4,474,642 shares of the transportation company’s stock worth $362,542,000 after buying an additional 1,152,495 shares during the last quarter. 55.30% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway

Canadian National Railway Company 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 and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.

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Analyst Recommendations for Canadian National Railway (NYSE:CNI)

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