Scotiabank Has Lowered Expectations for Canadian National Railway (TSE:CNR) Stock Price

Canadian National Railway (TSE:CNR) (NYSE:CNI) had its price target lowered by research analysts at Scotiabank from C$176.00 to C$166.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 16.57% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Loop Capital cut Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada dropped their price objective on shares of Canadian National Railway from C$171.00 to C$165.00 and set an “outperform” rating on the stock in a research note on Monday. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and dropped their target price for the stock from C$175.00 to C$170.00 in a research note on Monday, January 13th. Finally, Barclays cut their price objective on Canadian National Railway from C$160.00 to C$150.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$167.86.

Canadian National Railway Price Performance

Shares of CNR traded up C$1.30 during trading hours on Wednesday, reaching C$142.40. 288,650 shares of the company’s stock traded hands, compared to its average volume of 1,275,827. Canadian National Railway has a 12 month low of C$135.06 and a 12 month high of C$180.12. The firm’s 50 day simple moving average is C$144.63 and its 200-day simple moving average is C$149.96. The stock has a market cap of C$89.22 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 107.59.

Insider Activity

In related news, Director Shauneen Elizabeth Bruder bought 645 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of C$141.56 per share, for a total transaction of C$91,308.14. Corporate insiders own 2.64% of the company’s stock.

Canadian National Railway Company Profile

Canadian National’s railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2019, CN delivered almost 6 million carloads over its 19,600 miles of track. CN generated roughly CAD 14 billion in total revenue by hauling intermodal containers (25% of consolidated revenue), petroleum and chemicals (21%), grain and fertilizers (16%), forest products (12%), metals and mining (11%), automotive shipments (6%), and coal (4%).