Canadian National Railway Co. (CNI) Lowered to “Market Perform” at Raymond James Financial Inc.
Canadian National Railway Co. (NYSE:CNI) was downgraded by Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday.
Several other analysts have also recently weighed in on CNI. Vertical Research assumed coverage on Canadian National Railway in a report on Tuesday, October 11th. They issued a “hold” rating on the stock. TD Securities reiterated a “hold” rating and issued a $90.00 target price on shares of Canadian National Railway in a report on Saturday, October 8th. Scotiabank reiterated a “sector perform” rating and issued a $87.00 target price on shares of Canadian National Railway in a report on Sunday, October 2nd. Loop Capital assumed coverage on Canadian National Railway in a report on Monday, September 26th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Barclays PLC reiterated an “equal weight” rating on shares of Canadian National Railway in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Canadian National Railway has an average rating of “Hold” and an average target price of $74.16.
Shares of Canadian National Railway (NYSE:CNI) traded down 0.20% during mid-day trading on Monday, reaching $66.19. 123,527 shares of the company’s stock traded hands. Canadian National Railway has a 12 month low of $46.23 and a 12 month high of $67.66. The company has a market cap of $51.07 billion, a price-to-earnings ratio of 19.29 and a beta of 1.10. The company has a 50 day moving average of $64.69 and a 200 day moving average of $62.09.
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Canadian National Railway (NYSE:CNI) last released its quarterly earnings results on Monday, July 25th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3 billion. Canadian National Railway had a return on equity of 24.13% and a net margin of 29.55%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. Analysts expect that Canadian National Railway will post $3.41 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were issued a dividend of $0.288 per share. The ex-dividend date was Wednesday, September 7th. Canadian National Railway’s dividend payout ratio is 33.43%.
Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Canadian National Railway by 6.2% in the first quarter. Wellington Management Group LLP now owns 28,070,677 shares of the company’s stock valued at $1,758,987,000 after buying an additional 1,639,473 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Canadian National Railway by 1.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 20,312,720 shares of the company’s stock valued at $1,193,237,000 after buying an additional 372,120 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Canadian National Railway by 11.7% in the second quarter. Vanguard Group Inc. now owns 13,341,784 shares of the company’s stock worth $787,965,000 after buying an additional 1,395,732 shares during the last quarter. FMR LLC boosted its position in shares of Canadian National Railway by 16.3% in the second quarter. FMR LLC now owns 13,107,827 shares of the company’s stock worth $774,020,000 after buying an additional 1,839,225 shares during the last quarter. Finally, Jarislowsky Fraser Ltd boosted its position in shares of Canadian National Railway by 12.2% in the second quarter. Jarislowsky Fraser Ltd now owns 11,982,848 shares of the company’s stock worth $735,332,000 after buying an additional 1,299,386 shares during the last quarter. Institutional investors and hedge funds own 56.12% of the company’s stock.
Canadian National Railway Company Profile
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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