Canadian National Railway (NYSE:CNI) Given New $112.00 Price Target at Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price decreased by Bank of America from $119.00 to $112.00 in a report published on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other research firms have also recently weighed in on CNI. Barclays raised their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered 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 research note on Wednesday, October 9th. Sanford C. Bernstein reduced their price objective on 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. Finally, Wells Fargo & Company lowered their target price on Canadian National Railway from $133.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.48.

Canadian National Railway Trading Down 1.8 %

Canadian National Railway stock opened at $102.47 on Wednesday. The stock has a market cap of $64.47 billion, a P/E ratio of 16.42, a PEG ratio of 2.43 and a beta of 0.91. Canadian National Railway has a fifty-two week low of $98.96 and a fifty-two week high of $134.02. The firm’s fifty day moving average price is $106.69 and its 200-day moving average price is $112.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Equities research analysts forecast that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Hedge Funds Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in Canadian National Railway by 1.5% in the second quarter. Private Advisor Group LLC now owns 10,412 shares of the transportation company’s stock worth $1,230,000 after buying an additional 149 shares during the last quarter. Caprock Group LLC bought a new position in Canadian National Railway in the 2nd quarter valued at approximately $522,000. Choreo LLC boosted its stake in Canadian National Railway by 118.2% during the 2nd quarter. Choreo LLC now owns 14,021 shares of the transportation company’s stock valued at $1,637,000 after purchasing an additional 7,594 shares during the last quarter. LGT Fund Management Co Ltd. bought a new stake in shares of Canadian National Railway in the 2nd quarter worth $285,000. Finally, Dorsey & Whitney Trust CO LLC raised its stake in shares of Canadian National Railway by 23.4% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,826 shares of the transportation company’s stock worth $334,000 after purchasing an additional 536 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.