Evercore ISI Cuts Canadian National Railway (NYSE:CNI) Price Target to $119.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target cut by Evercore ISI from $128.00 to $119.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

A number of other research analysts have also recently weighed in on CNI. Stephens dropped their price target on Canadian National Railway from $127.00 to $122.00 and set an equal weight rating for the company in a research report on Wednesday, July 24th. Benchmark restated a hold rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Sanford C. Bernstein downgraded shares of Canadian National Railway from an outperform rating to a market perform rating and reduced their price target for the company from $146.25 to $130.67 in a report on Monday, July 8th. Scotiabank raised shares of Canadian National Railway from a hold rating to a strong-buy rating in a research note on Wednesday, July 10th. Finally, Barclays lifted their price objective on Canadian National Railway from $120.00 to $121.00 and gave the stock an equal weight rating in a research report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $132.76.

Canadian National Railway Stock Down 0.3 %

Shares of NYSE CNI opened at $116.41 on Wednesday. The stock has a market capitalization of $73.30 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The firm has a 50-day moving average price of $115.71 and a 200 day moving average price of $121.79. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the firm earned $1.31 EPS. Canadian National Railway’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.614 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.11%. Canadian National Railway’s payout ratio is 39.08%.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently bought and sold shares of the stock. GQG Partners LLC raised its position in shares of Canadian National Railway by 0.8% in the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after buying an additional 93 shares during the period. Choreo LLC lifted its stake in shares of Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after purchasing an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Canadian National Railway by 2.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Canadian National Railway by 1.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after purchasing an additional 102 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Canadian National Railway by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after purchasing an additional 105 shares in 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, 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.