Canadian National Railway (NYSE:CNI) Price Target Lowered to $130.00 at Stifel Nicolaus

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target trimmed by Stifel Nicolaus from $133.00 to $130.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the transportation company’s stock.

A number of other analysts also recently issued reports on the stock. Citigroup began coverage on shares of Canadian National Railway in a report on Wednesday, October 9th. They issued a neutral rating and a $125.00 price objective on the stock. 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 research report on Wednesday, July 24th. Barclays raised their price objective on Canadian National Railway from $120.00 to $121.00 and gave the company an equal weight rating in a report on Wednesday, September 25th. Evercore ISI lowered their target price on Canadian National Railway from $128.00 to $119.00 and set an in-line rating on the stock in a research report on Wednesday, September 25th. Finally, Scotiabank raised Canadian National Railway from a hold rating to a strong-buy rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of Hold and a consensus price target of $126.02.

Canadian National Railway Trading Down 0.3 %

CNI opened at $115.52 on Friday. The stock has a market capitalization of $73.06 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.55 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The firm’s fifty day simple moving average is $115.63 and its 200 day simple moving average is $120.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results 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 firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. As a group, research analysts anticipate that Canadian National Railway will post 5.54 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 39.07%.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board boosted its position in shares of Canadian National Railway by 92.4% in the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after acquiring an additional 2,163,820 shares during the period. Wellington Management Group LLP boosted its holdings in Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the period. Capital International Investors grew its position in shares of Canadian National Railway by 18.1% during the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Canadian National Railway by 4,614.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after purchasing an additional 1,307,689 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Canadian National Railway in the second quarter valued at approximately $134,096,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.