Wells Fargo & Company Lowers Canadian National Railway (NYSE:CNI) Price Target to $125.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target cut by Wells Fargo & Company from $133.00 to $125.00 in a research note released on Tuesday, Marketbeat reports. They currently have an overweight rating on the transportation company’s stock.

CNI has been the topic of a number of other research reports. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price target for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group decreased their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.48.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $102.47 on Tuesday. The stock has a fifty day moving average price of $106.58 and a 200 day moving average price of $112.63. Canadian National Railway has a 52 week low of $98.96 and a 52 week high of $134.02. The firm has a market capitalization of $64.47 billion, a P/E ratio of 16.42, a PEG ratio of 2.43 and a beta of 0.91. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 EPS. Equities research analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $0.6108 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Institutional Trading of Canadian National Railway

Several large investors have recently modified their holdings of CNI. Grove Bank & Trust lifted its stake in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after acquiring an additional 97 shares in the last quarter. Doheny Asset Management CA raised its position in shares of Canadian National Railway by 3.8% in the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock valued at $354,000 after purchasing an additional 110 shares in the last quarter. Catalytic Wealth RIA LLC grew its position in shares of Canadian National Railway by 2.3% during the third quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company’s stock worth $654,000 after buying an additional 123 shares in the last quarter. Harrington Investments INC increased its stake in shares of Canadian National Railway by 0.6% in the third quarter. Harrington Investments INC now owns 20,346 shares of the transportation company’s stock worth $2,384,000 after buying an additional 130 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Canadian National Railway by 15.6% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock valued at $113,000 after acquiring an additional 131 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

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.