Canadian National Railway (NYSE:CNI) Price Target Lowered to $102.00 at Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price lowered by Bank of America from $106.00 to $102.00 in a report released on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other research firms have also weighed in on CNI. JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Barclays reduced their target price on shares of Canadian National Railway from $106.00 to $99.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 23rd. National Bank Financial cut shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 23rd. Citigroup reduced their price objective on Canadian National Railway from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Finally, Susquehanna lowered their target price on Canadian National Railway from $120.00 to $115.00 and set a “positive” rating on the stock in a research note on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $116.86.

Canadian National Railway Stock Performance

CNI stock opened at $93.94 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market cap of $58.32 billion, a PE ratio of 18.07, a P/E/G ratio of 2.14 and a beta of 0.94. The business has a 50 day moving average of $94.53 and a 200-day moving average of $99.11. Canadian National Railway has a 12-month low of $91.07 and a 12-month high of $117.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect 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 quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were given a $0.6507 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is presently 50.19%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Addison Advisors LLC grew its holdings in Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Dagco Inc. bought a new position in shares of Canadian National Railway in the first quarter valued at approximately $32,000. Curio Wealth LLC grew its stake in Canadian National Railway by 31,600.0% during the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 316 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock worth $34,000 after acquiring an additional 106 shares during the period. Finally, CX Institutional bought a new stake in Canadian National Railway during the 1st quarter worth approximately $39,000. 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.