TD Securities Reiterates “Hold” Rating for Canadian National Railway Co. (CNI)
Canadian National Railway Co. (NYSE:CNI)‘s stock had its “hold” rating reissued by investment analysts at TD Securities in a research report issued on Saturday. They currently have a $90.00 price objective on the stock. TD Securities’ target price would indicate a potential upside of 35.46% from the company’s current price.
CNI has been the subject of a number of other reports. Raymond James Financial Inc. upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 26th. Citigroup Inc. reiterated a “neutral” rating and issued a $62.00 target price on shares of Canadian National Railway in a report on Saturday, June 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $90.00 target price on shares of Canadian National Railway in a report on Tuesday, July 26th. Barclays PLC lifted their target price on Canadian National Railway from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Monday, September 12th. Finally, Desjardins reiterated a “hold” rating and issued a $86.00 target price on shares of Canadian National Railway in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $73.64.
Canadian National Railway (NYSE:CNI) opened at 66.44 on Friday. The stock has a 50 day moving average price of $64.47 and a 200-day moving average price of $61.90. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 19.34 and a beta of 1.10. Canadian National Railway has a one year low of $46.23 and a one year high of $67.30.
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Canadian National Railway (NYSE:CNI) last issued its quarterly earnings data on Monday, July 25th. The company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.02. Canadian National Railway had a return on equity of 24.13% and a net margin of 29.55%. The business earned $2.84 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was down 9.1% on a year-over-year basis. On average, analysts predict that Canadian National Railway will post $3.41 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a dividend of $0.288 per share. The ex-dividend date of this dividend was Wednesday, September 7th. Canadian National Railway’s payout ratio is 33.43%.
Several large investors have recently made changes to their positions in CNI. JPMorgan Chase & Co. raised its stake in shares of Canadian National Railway by 13.7% in the first quarter. JPMorgan Chase & Co. now owns 1,657,440 shares of the company’s stock valued at $103,525,000 after buying an additional 199,288 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Canadian National Railway during the first quarter valued at approximately $4,052,000. Bessemer Group Inc. raised its stake in shares of Canadian National Railway by 119.4% in the first quarter. Bessemer Group Inc. now owns 1,968 shares of the company’s stock valued at $123,000 after buying an additional 1,071 shares during the period. Ropes Wealth Advisors LLC raised its stake in shares of Canadian National Railway by 7.9% in the first quarter. Ropes Wealth Advisors LLC now owns 85,974 shares of the company’s stock valued at $5,370,000 after buying an additional 6,266 shares during the period. Finally, Aviva PLC raised its stake in shares of Canadian National Railway by 1.5% in the first quarter. Aviva PLC now owns 377,750 shares of the company’s stock valued at $23,640,000 after buying an additional 5,575 shares during the period. 56.06% of the stock is currently owned by institutional investors and hedge funds.
About Canadian National Railway
Canadian National Railway Co is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.
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