Canadian National Railway (NYSE:CNI) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a neutral rating to a buy rating in a research report released on Tuesday, MarketBeat reports. The brokerage currently has $130.00 price target on the transportation company’s stock, up from their previous price target of $126.00.

CNI has been the subject of a number of other reports. Evercore ISI decreased their target price on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Susquehanna cut their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Stock Down 1.1 %

NYSE:CNI opened at $108.89 on Tuesday. The stock has a fifty day simple moving average of $114.17 and a 200-day simple moving average of $117.83. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market cap of $68.47 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Canadian National Railway has a twelve month low of $107.54 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share 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 analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Analysts anticipate that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.90%.

Institutional Trading of Canadian National Railway

Several large investors have recently added to or reduced their stakes in CNI. Public Employees Retirement System of Ohio purchased a new stake in Canadian National Railway in the third quarter valued at approximately $40,017,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Canadian National Railway during the third quarter worth $823,000. XTX Topco Ltd lifted its position in Canadian National Railway by 43.3% during the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock valued at $1,822,000 after purchasing an additional 4,698 shares during the period. National Bank of Canada FI boosted its holdings in Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares during the last quarter. Finally, Hendershot Investments Inc. raised its stake in shares of Canadian National Railway by 13.4% during the 3rd quarter. Hendershot Investments Inc. now owns 104,187 shares of the transportation company’s stock valued at $12,206,000 after buying an additional 12,296 shares during the last quarter. Hedge funds and other institutional investors 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.