Stephens Reaffirms Equal Weight Rating for Canadian National Railway (NYSE:CNI)

Stephens reissued their equal weight rating on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research report released on Wednesday morning, Benzinga reports. Stephens currently has a $116.00 price target on the transportation company’s stock.

A number of other research analysts also recently weighed in on the company. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. 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 for the company in a report on Wednesday, October 9th. Citigroup started coverage on shares of Canadian National Railway in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $125.00 price objective on the stock. Finally, Evercore ISI decreased 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 issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Stock Performance

NYSE:CNI opened at $110.97 on Wednesday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a 50-day moving average of $115.93 and a 200-day moving average of $119.53. The firm has a market cap of $70.18 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business posted $1.26 EPS. The company’s revenue was up 3.1% on a year-over-year basis. Analysts forecast 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. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.71%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. lifted its holdings in 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 worth $1,106,361,000 after purchasing an additional 674,536 shares during the last quarter. Capital International Investors lifted its holdings in Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares during the last quarter. JARISLOWSKY FRASER Ltd lifted its holdings in Canadian National Railway by 1.2% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock worth $1,017,315,000 after purchasing an additional 99,716 shares during the last quarter. Fiera Capital Corp lifted its holdings in Canadian National Railway by 13.3% in the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock worth $643,503,000 after purchasing an additional 638,817 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Canadian National Railway by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock worth $570,667,000 after purchasing an additional 120,453 shares during the last quarter. 80.74% of the stock is currently 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.