Canadian National Railway (NYSE:CNI) Given New $126.00 Price Target at Citigroup

Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR had its price objective increased by Citigroup from $125.00 to $126.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the transportation company's stock.

A number of other equities research analysts have also commented on CNI. Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Royal Bank of Canada upgraded Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Susquehanna cut their price target on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday. Bank of America lowered shares of Canadian National Railway from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Finally, Evercore ISI dropped their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $125.18.

Canadian National Railway Price Performance

Shares of NYSE CNI traded down $1.16 during midday trading on Thursday, reaching $110.83. 1,749,885 shares of the company traded hands, compared to its average volume of 1,114,675. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The stock's 50-day simple moving average is $116.02 and its 200-day simple moving average is $119.72. The firm has a market cap of $69.80 billion, a PE ratio of 17.76, a PEG ratio of 2.50 and a beta of 0.88.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. As a group, equities analysts anticipate that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio (DPR) is currently 39.26%.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board boosted its position in Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company's stock valued at $593,911,000 after purchasing an additional 2,163,820 shares during the last quarter. Capital International Investors grew its stake in shares of Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company's stock valued at $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Canadian National Railway by 4,614.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company's stock worth $157,896,000 after buying an additional 1,307,689 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Canadian National Railway during the second quarter worth $134,096,000. Finally, 1832 Asset Management L.P. lifted its stake in Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock valued at $1,106,361,000 after acquiring an additional 674,536 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.