Royal Bank of Canada Reiterates Outperform Rating for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $174.00 price target on the transportation company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 72.81% from the company’s previous close.

CNI has been the subject of a number of other reports. 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. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group reduced their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $133.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.94.

Canadian National Railway Price Performance

CNI traded down $1.71 on Friday, reaching $100.69. 490,183 shares of the company’s stock were exchanged, compared to its average volume of 1,016,138. Canadian National Railway has a twelve month low of $98.96 and a twelve month high of $134.02. The stock has a market cap of $63.35 billion, a PE ratio of 16.14, a P/E/G ratio of 2.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The stock’s fifty day moving average price is $106.58 and its 200-day moving average price is $112.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts expect that Canadian National Railway will post 5.31 EPS for the current year.

Hedge Funds Weigh In On Canadian National Railway

Institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC increased its position in shares of Canadian National Railway by 92.5% during the fourth quarter. Ridgewood Investments LLC now owns 1,923 shares of the transportation company’s stock worth $195,000 after acquiring an additional 924 shares during the period. Fortitude Family Office LLC grew its stake in Canadian National Railway by 133.8% during the 4th quarter. Fortitude Family Office LLC now owns 608 shares of the transportation company’s stock worth $62,000 after purchasing an additional 348 shares in the last quarter. Canandaigua National Trust Co of Florida increased its holdings in Canadian National Railway by 61.9% during the 4th quarter. Canandaigua National Trust Co of Florida now owns 3,570 shares of the transportation company’s stock worth $362,000 after purchasing an additional 1,365 shares during the period. Principal Financial Group Inc. increased its holdings in 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 period. Finally, Synovus Financial Corp raised its position in Canadian National Railway by 82.3% in the 3rd quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company’s stock valued at $1,625,000 after purchasing an additional 6,261 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.