Canadian National Railway (NYSE:CNI) Sets New 12-Month Low – Here’s What Happened

Canadian National Railway Company (NYSE:CNI) (TSE:CNR)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $90.74 and last traded at $90.8830, with a volume of 1402591 shares. The stock had previously closed at $92.99.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore ISI lifted their target price on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday, November 3rd. Zacks Research downgraded Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Susquehanna increased their target price on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Finally, Bank of America decreased their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.00.

Canadian National Railway Trading Up 1.5%

The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $94.71 and a 200-day simple moving average of $98.28. The firm has a market cap of $57.99 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 EPS. On average, equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be given a $0.8875 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio is 48.01%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CNI. Lazard Asset Management LLC boosted its stake in shares of Canadian National Railway by 639,137.0% during the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after purchasing an additional 8,954,310 shares during the period. Norges Bank bought a new position in Canadian National Railway in the second quarter worth approximately $591,904,000. Kingstone Capital Partners Texas LLC purchased a new position in Canadian National Railway during the 2nd quarter worth $310,489,000. Fisher Asset Management LLC bought a new stake in Canadian National Railway during the 2nd quarter valued at $189,748,000. Finally, Troy Asset Management Ltd lifted its holdings in shares of Canadian National Railway by 158.8% in the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock worth $258,220,000 after buying an additional 1,680,223 shares during the period. 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.