Canadian National Railway (NYSE:CNI) Given New $134.00 Price Target at Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target boosted by equities researchers at Bank of America from $132.00 to $134.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 16.32% from the stock’s previous close.

Several other research analysts have also weighed in on CNI. Sanford C. Bernstein increased their price objective on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report 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 report on Thursday, April 30th. Canadian Imperial Bank of Commerce upped their target price on shares of Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada lifted their price target on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Citigroup upped their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Canadian National Railway has an average rating of “Hold” and an average target price of $123.24.

Canadian National Railway Price Performance

CNI stock traded up $1.06 during trading on Tuesday, hitting $115.19. The stock had a trading volume of 205,188 shares, compared to its average volume of 1,598,132. The stock has a market capitalization of $69.89 billion, a P/E ratio of 20.97, a PEG ratio of 2.17 and a beta of 0.96. The company’s 50-day moving average price is $114.38 and its two-hundred day moving average price is $106.50. Canadian National Railway has a twelve month low of $90.74 and a twelve month high of $122.48. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts predict that Canadian National Railway will post 5.76 EPS for the current fiscal year.

Institutional Trading of Canadian National Railway

Hedge funds have recently added to or reduced their stakes in the business. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth about $27,000. Curio Wealth LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $31,000. MidFirst Bank purchased a new stake in shares of Canadian National Railway during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC acquired a new position in Canadian National Railway during the first quarter valued at approximately $37,000. 80.74% of the stock is owned by institutional investors and hedge funds.

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.