Evercore ISI Lowers Canadian National Railway (NYSE:CNI) Price Target to $116.00

Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR had its price objective lowered by Evercore ISI from $119.00 to $116.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an in-line rating on the transportation company's stock.

A number of other research analysts have also commented on CNI. Sanford C. Bernstein lowered their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a research note on Wednesday, October 9th. Citigroup assumed coverage on shares of Canadian National Railway in a research note on Wednesday, October 9th. They set a "neutral" rating and a $125.00 target price for the company. The Goldman Sachs Group decreased their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a "sell" rating on the stock in a research report on Wednesday, October 9th. Scotiabank upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 10th. Finally, Barclays lifted their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and a consensus price target of $125.10.

Canadian National Railway Stock Performance

NYSE:CNI traded down $0.25 during mid-day trading on Wednesday, hitting $111.99. The stock had a trading volume of 2,663,084 shares, compared to its average volume of 1,111,577. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $70.82 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.53 and a beta of 0.88. The company has a 50 day simple moving average of $116.02 and a 200-day simple moving average of $119.72.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, research analysts expect that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, December 9th. Canadian National Railway's dividend payout ratio (DPR) is currently 39.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. 1832 Asset Management L.P. grew its stake in shares of Canadian National Railway by 7.8% in the 2nd 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 buying an additional 674,536 shares in the last quarter. Capital International Investors grew its holdings in Canadian National Railway by 18.1% during 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 purchasing an additional 1,379,976 shares during the last quarter. JARISLOWSKY FRASER Ltd raised its position in shares of Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company's stock valued at $1,017,315,000 after purchasing an additional 99,716 shares during the period. Fiera Capital Corp raised its position in shares of Canadian National Railway by 13.3% in the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company's stock valued at $643,503,000 after purchasing an additional 638,817 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Canadian National Railway by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company's stock worth $570,667,000 after buying an additional 120,453 shares during 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.