Canadian National Railway (NYSE:CNI) Given New $124.00 Price Target at Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective raised by Citigroup from $117.00 to $124.00 in a report published on Monday morning,BayStreet.CA reports. Citigroup currently has a buy rating on the transportation company’s stock.

A number of other analysts also recently commented on CNI. Susquehanna upgraded Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 target price on the stock in a research note on Tuesday, May 6th. Raymond James lowered Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Stephens lifted their target price 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. Jefferies Financial Group decreased their target price on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $163.00 price target on shares of Canadian National Railway in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $120.36.

Canadian National Railway Trading Down 0.3%

NYSE CNI opened at $104.60 on Monday. Canadian National Railway has a 12-month low of $91.65 and a 12-month high of $125.87. The company has a fifty day simple moving average of $101.20 and a two-hundred day simple moving average of $101.99. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The stock has a market cap of $65.74 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued 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 return on equity of 22.48% and a net margin of 26.09%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter last year, the business posted $1.72 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.8875 dividend. This represents a dividend yield of 2.47%. The ex-dividend date is Monday, June 9th. This is a boost from Canadian National Railway’s previous dividend of $0.29. Canadian National Railway’s dividend payout ratio (DPR) is currently 50.29%.

Hedge Funds Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Canadian National Railway during the fourth quarter worth about $563,048,000. Royal Bank of Canada increased its holdings in shares of Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company’s stock worth $2,817,616,000 after buying an additional 1,934,622 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Canadian National Railway by 37.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock worth $518,260,000 after buying an additional 1,439,617 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company’s stock valued at $557,278,000 after buying an additional 1,380,554 shares during the period. Finally, Capital International Investors raised its position in shares of Canadian National Railway by 12.8% during the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company’s stock valued at $1,199,680,000 after buying an additional 1,341,133 shares during the period. 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.