Canadian National Railway (NYSE:CNI) Sees Large Volume Increase – Time to Buy?

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) saw unusually-strong trading volume on Monday . Approximately 5,135,302 shares traded hands during mid-day trading, an increase of 222% from the previous session’s volume of 1,596,689 shares.The stock last traded at $120.74 and had previously closed at $120.38.

Analyst Ratings Changes

A number of equities research analysts have commented on CNI shares. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Sanford C. Bernstein raised their price objective on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Barclays raised their price objective on Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their price objective on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Citigroup raised their price objective on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $122.04.

Canadian National Railway Stock Performance

The firm has a 50-day moving average of $111.57 and a two-hundred day moving average of $104.70. 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 market capitalization of $73.49 billion, a PE ratio of 21.99, a PEG ratio of 2.31 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting the consensus estimate of $1.31. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.Canadian National Railway’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $1.85 earnings per share. Research analysts anticipate that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.55%.

Institutional Trading of Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the business. High Point Wealth Management LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $27,000. Costello Asset Management INC increased its position in shares of Canadian National Railway by 83.3% in the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after buying an additional 150 shares in the last quarter. Curio Wealth LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. MidFirst Bank purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after buying an additional 280 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.