Canadian National Railway (NYSE:CNI) Given New $112.00 Price Target at Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective trimmed by Bank of America from $119.00 to $112.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other equities analysts also recently commented on the stock. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Barclays increased their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein dropped their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Finally, Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway has an average rating of “Moderate Buy” and an average target price of $125.94.

Canadian National Railway Trading Down 2.5 %

Shares of NYSE:CNI opened at $99.86 on Wednesday. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The business has a 50 day moving average of $106.41 and a 200-day moving average of $112.50. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a market cap of $62.83 billion, a PE ratio of 16.00, a P/E/G ratio of 2.43 and a beta of 0.91.

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

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 38.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC increased its position in Canadian National Railway by 1.5% during the 2nd quarter. Private Advisor Group LLC now owns 10,412 shares of the transportation company’s stock worth $1,230,000 after purchasing an additional 149 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Canadian National Railway during the second quarter worth $522,000. Choreo LLC grew its stake in shares of Canadian National Railway by 118.2% during the second quarter. Choreo LLC now owns 14,021 shares of the transportation company’s stock worth $1,637,000 after buying an additional 7,594 shares during the last quarter. LGT Fund Management Co Ltd. acquired a new position in shares of Canadian National Railway during the second quarter worth $285,000. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Canadian National Railway by 23.4% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,826 shares of the transportation company’s stock valued at $334,000 after acquiring an additional 536 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.