Canadian National Railway (NYSE:CNI) Price Target Cut to $112.00 by Analysts at Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price lowered by Bank of America from $119.00 to $112.00 in a research note published on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

A number of other equities analysts have also weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on Canadian National Railway from $133.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. Stifel Nicolaus increased their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and an average price target of $122.48.

Canadian National Railway Stock Down 1.8 %

Shares of NYSE CNI opened at $102.47 on Wednesday. The firm’s 50-day moving average is $106.69 and its 200-day moving average is $112.70. Canadian National Railway has a 1 year low of $98.96 and a 1 year high of $134.02. The firm has a market capitalization of $64.47 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Equities analysts expect that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $0.6108 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. Canadian National Railway’s dividend payout ratio (DPR) is presently 38.14%.

Institutional Trading of Canadian National Railway

A number of institutional investors and hedge funds have recently modified their holdings of CNI. Canandaigua National Trust Co of Florida raised its position in Canadian National Railway by 61.9% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 3,570 shares of the transportation company’s stock worth $362,000 after acquiring an additional 1,365 shares during the period. Principal Financial Group Inc. increased its stake in shares of Canadian National Railway by 29.6% during the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after purchasing an additional 21,100 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Canadian National Railway by 82.3% in the 3rd quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company’s stock worth $1,625,000 after purchasing an additional 6,261 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in Canadian National Railway by 115.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,382 shares of the transportation company’s stock valued at $513,000 after purchasing an additional 2,346 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in Canadian National Railway by 5.0% during the third quarter. SkyView Investment Advisors LLC now owns 40,218 shares of the transportation company’s stock valued at $4,712,000 after purchasing an additional 1,903 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.