Bank of America Lowers Canadian National Railway (NYSE:CNI) Price Target to $129.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price trimmed by Bank of America from $132.00 to $129.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the stock. Barclays reduced their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an equal weight rating on the stock in a research note on Wednesday, July 24th. Stifel Nicolaus decreased their price target on Canadian National Railway from $137.00 to $133.00 and set a hold rating for the company in a report on Wednesday, July 24th. Stephens lowered their price objective on Canadian National Railway from $127.00 to $122.00 and set an equal weight rating for the company in a research report on Wednesday, July 24th. Benchmark restated a hold rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company decreased their target price on Canadian National Railway from $130.00 to $125.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of Hold and a consensus price target of $137.35.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $116.55 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The firm has a market cap of $73.71 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.88. The firm’s fifty day moving average is $116.17 and its 200-day moving average is $122.72.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. Canadian National Railway’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. Sell-side analysts predict that Canadian National Railway will post 5.64 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.11%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.07%.

Institutional Trading of Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of the stock. GQG Partners LLC grew its holdings in Canadian National Railway by 0.8% during the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after buying an additional 93 shares in the last quarter. Choreo LLC grew its stake in shares of Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after acquiring an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Canadian National Railway by 1.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after purchasing an additional 102 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Canadian National Railway by 19.3% during the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after purchasing an additional 105 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.