Canadian National Railway (NYSE:CNI) Stock Price Expected to Rise, Citigroup Analyst Says

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective lifted by Citigroup from $115.00 to $123.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective suggests a potential upside of 16.22% from the company’s current price.

Several other research analysts have also issued reports on CNI. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Sanford C. Bernstein lifted their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Finally, Barclays lifted their price objective on shares of Canadian National Railway from $97.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.36.

Canadian National Railway Price Performance

Canadian National Railway stock traded up $0.76 during mid-day trading on Tuesday, hitting $105.84. The company’s stock had a trading volume of 902,467 shares, compared to its average volume of 1,708,252. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $64.69 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.17 and a beta of 0.91. Canadian National Railway has a twelve month low of $90.74 and a twelve month high of $113.08. The stock’s fifty day moving average price is $104.61 and its two-hundred day moving average price is $99.32.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 earnings per share. Research analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of CNI. Purpose Unlimited Inc. acquired a new position in Canadian National Railway during the 4th quarter worth $12,429,000. Nalls Sherbakoff Group LLC acquired a new position in Canadian National Railway during the 4th quarter worth $54,000. SHP Wealth Management acquired a new position in Canadian National Railway during the 4th quarter worth $237,000. Reflection Asset Management acquired a new position in Canadian National Railway during the 4th quarter worth $1,592,000. Finally, Tobam lifted its position in Canadian National Railway by 10.4% during the 4th quarter. Tobam now owns 1,662 shares of the transportation company’s stock worth $164,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.