Canadian National Railway (NYSE:CNI) Given New $110.00 Price Target at Wells Fargo & Company

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price reduced by Wells Fargo & Company from $117.00 to $110.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other equities analysts have also commented on CNI. Susquehanna lowered their price objective on Canadian National Railway from $120.00 to $115.00 and set a “positive” rating for the company in a research report on Thursday, September 25th. Raymond James Financial upgraded shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Citigroup dropped their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. Bank of America decreased their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Finally, Barclays lowered their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.11.

Canadian National Railway Stock Performance

Shares of CNI opened at $96.72 on Monday. The company has a 50-day simple moving average of $94.39 and a two-hundred day simple moving average of $99.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market capitalization of $60.04 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. Canadian National Railway has a one year low of $91.07 and a one year high of $116.79.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 EPS. On average, analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 8th were issued a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, September 8th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio (DPR) is presently 50.19%.

Institutional Trading of Canadian National Railway

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Canadian National Railway by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock worth $2,493,163,000 after purchasing an additional 761,454 shares during the last quarter. TD Asset Management Inc raised its position in Canadian National Railway by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after buying an additional 273,974 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Canadian National Railway by 6.0% during the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock valued at $1,095,793,000 after acquiring an additional 636,147 shares during the period. Mackenzie Financial Corp lifted its stake in Canadian National Railway by 6.3% during the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock valued at $834,129,000 after acquiring an additional 505,588 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Canadian National Railway by 26.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after acquiring an additional 1,408,978 shares during the last quarter. 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.