Canadian National Railway (NYSE:CNI) Downgraded by Bank of America to Neutral

Bank of America cut shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a buy rating to a neutral rating in a research note published on Friday morning, MarketBeat reports. They currently have $122.00 target price on the transportation company’s stock, down from their prior target price of $129.00.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Barclays lifted their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an equal weight rating in a report on Wednesday, September 25th. Stephens cut their price objective on shares of Canadian National Railway from $127.00 to $122.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Scotiabank raised shares of Canadian National Railway from a hold rating to a strong-buy rating in a report on Wednesday, July 10th. Finally, Susquehanna cut their price target on shares of Canadian National Railway from $135.00 to $130.00 and set a neutral rating on the stock in a report on Wednesday, July 24th. Seventeen investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $129.51.

Canadian National Railway Stock Down 0.6 %

CNI stock opened at $113.54 on Friday. The stock has a market cap of $71.50 billion, a P/E ratio of 18.11, a PEG ratio of 2.46 and a beta of 0.88. The business’s 50-day moving average price is $115.54 and its 200-day moving average price is $121.31. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. On average, equities research analysts forecast that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a $0.614 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.16%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Canadian National Railway during the second quarter worth about $26,000. Addison Advisors LLC increased its stake in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Canadian National Railway during the second quarter worth about $34,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Canadian National Railway during the first quarter worth about $64,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.