Canadian National Railway (NYSE:CNI) Price Target Raised to $123.00 at Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target hoisted by Citigroup from $115.00 to $123.00 in a report published on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities analysts have also recently weighed in on the company. Royal Bank Of Canada cut their price target on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Sanford C. Bernstein boosted their price target on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Vertical Research raised Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. UBS Group downgraded Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Stephens lowered their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average price target of $116.36.

Canadian National Railway Stock Performance

NYSE CNI opened at $105.84 on Tuesday. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $113.08. The stock has a market cap of $64.69 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.17 and a beta of 0.91. The business has a fifty day moving average of $104.72 and a 200-day moving average of $99.41. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were given a $0.915 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is presently 49.36%.

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Canadian National Railway by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company’s stock valued at $2,437,679,000 after acquiring an additional 346,670 shares during the last quarter. FIL Ltd boosted its holdings in Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares during the last quarter. Bank of Montreal Can boosted its holdings in Canadian National Railway by 0.3% in the third quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company’s stock valued at $1,338,948,000 after acquiring an additional 42,907 shares during the last quarter. Caisse de depot et placement du Quebec boosted its holdings in Canadian National Railway by 1.1% in the third quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock valued at $1,310,600,000 after acquiring an additional 157,000 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Canadian National Railway by 15.1% in the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after acquiring an additional 1,182,106 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.