Bank of America Cuts Canadian National Railway (NYSE:CNI) Price Target to $112.00

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

A number of other analysts have also recently commented on CNI. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Susquehanna dropped their price target on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday. Sanford C. Bernstein decreased their price objective on 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. Finally, JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.94.

Canadian National Railway Price Performance

Shares of CNI opened at $99.86 on Wednesday. The stock has a market cap of $62.83 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 1 year low of $98.96 and a 1 year high of $134.02. The stock’s 50-day moving average price is $106.41 and its two-hundred day moving average price is $112.50. 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 released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm earned $1.26 EPS. Canadian National Railway’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

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

Institutional Investors Weigh In On Canadian National Railway

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