Bank of America Raises Canadian National Railway (NYSE:CNI) Price Target to $115.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price upped by investment analysts at Bank of America from $105.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target suggests a potential upside of 6.40% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Raymond James lowered shares of Canadian National Railway from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Stephens increased their price objective on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Evercore ISI cut their price objective on shares of Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Susquehanna upgraded shares of Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 price objective on the stock in a report on Tuesday, May 6th. Finally, Citigroup cut their price objective on shares of Canadian National Railway from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.52.

Canadian National Railway Price Performance

Shares of CNI stock opened at $108.08 on Friday. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $129.18. The firm’s 50 day moving average is $98.79 and its 200-day moving average is $102.51. The firm has a market capitalization of $67.93 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.95 and a beta of 0.97. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period in the prior year, the business earned $1.72 earnings per share. Canadian National Railway’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian National Railway

Several large investors have recently made changes to their positions in the stock. Logan Capital Management Inc. increased its position in shares of Canadian National Railway by 50.7% during the first quarter. Logan Capital Management Inc. now owns 26,486 shares of the transportation company’s stock worth $2,581,000 after acquiring an additional 8,916 shares in the last quarter. Guardian Partners Inc. increased its position in shares of Canadian National Railway by 2.3% during the first quarter. Guardian Partners Inc. now owns 234,478 shares of the transportation company’s stock worth $22,128,000 after acquiring an additional 5,246 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Canadian National Railway by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after acquiring an additional 755,518 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Canadian National Railway by 219.1% during the first quarter. Jones Financial Companies Lllp now owns 16,949 shares of the transportation company’s stock worth $1,652,000 after acquiring an additional 11,638 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its position in shares of Canadian National Railway by 60.0% during the first quarter. Polar Asset Management Partners Inc. now owns 40,000 shares of the transportation company’s stock worth $3,897,000 after acquiring an additional 15,000 shares in 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.