Canadian National Railway (NYSE:CNI) Hits New 1-Year High – Here’s What Happened

Shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $129.54 and last traded at $129.1150, with a volume of 355 shares. The stock had previously closed at $129.03.

Analyst Ratings Changes

A number of research firms recently commented on CNI. Stephens upgraded Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Wells Fargo & Company raised their target price on Canadian National Railway from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Bank of America boosted their price target on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $132.12.

Canadian National Railway Stock Down 0.6%

The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $118.48 and a 200-day simple moving average of $109.70. The firm has a market cap of $77.70 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Canadian National Railway Company will post 5.66 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is currently 48.55%.

Hedge Funds Weigh In On Canadian National Railway

Several large investors have recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. boosted its position in shares of Canadian National Railway by 5.8% in the second quarter. Cardinal Capital Management Inc. now owns 1,254,252 shares of the transportation company’s stock worth $149,384,000 after purchasing an additional 68,791 shares during the period. Ausbil Investment Management Ltd lifted its stake in shares of Canadian National Railway by 20.7% during the 2nd quarter. Ausbil Investment Management Ltd now owns 56,806 shares of the transportation company’s stock valued at $6,767,000 after buying an additional 9,737 shares in the last quarter. Fulton Bank N.A. bought a new position in Canadian National Railway in the 2nd quarter worth $209,000. Wealthcare Advisory Partners LLC bought a new position in Canadian National Railway in the 2nd quarter worth $226,000. Finally, Revolve Wealth Partners LLC purchased a new stake in Canadian National Railway in the 2nd quarter worth $502,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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.