Canadian National Railway (CNI) Given Average Recommendation of “Hold” by Brokerages
Canadian National Railway (NYSE:CNI) (TSE:CNR) has been given an average recommendation of “Hold” by the twenty-one ratings firms that are covering the stock. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $79.92.
A number of research firms recently commented on CNI. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Cowen and Company upped their price objective on shares of Canadian National Railway from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, April 25th. Barclays PLC restated an “equal weight” rating and issued a $81.00 price objective (up previously from $69.00) on shares of Canadian National Railway in a research report on Wednesday, May 17th. Wells Fargo & Co began coverage on shares of Canadian National Railway in a research report on Monday, March 13th. They issued a “market perform” rating for the company. Finally, Credit Suisse Group AG restated a “neutral” rating and issued a $72.00 price objective (up previously from $70.00) on shares of Canadian National Railway in a research report on Monday, March 6th.
Shares of Canadian National Railway (NYSE:CNI) traded up 0.08% during mid-day trading on Tuesday, hitting $75.75. The stock had a trading volume of 1,067,252 shares. The stock has a market capitalization of $57.27 billion, a price-to-earnings ratio of 21.34 and a beta of 1.07. The stock’s 50-day moving average price is $73.89 and its 200-day moving average price is $70.41. Canadian National Railway has a 12-month low of $55.73 and a 12-month high of $76.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be paid a dividend of $0.3059 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.62%. Canadian National Railway’s dividend payout ratio is 31.73%.
Several institutional investors have recently bought and sold shares of CNI. Norges Bank acquired a new position in Canadian National Railway during the fourth quarter worth approximately $370,189,000. Russell Investments Group Ltd. acquired a new position in Canadian National Railway during the fourth quarter worth approximately $172,909,000. Wellington Management Group LLP increased its position in Canadian National Railway by 7.9% in the first quarter. Wellington Management Group LLP now owns 30,335,430 shares of the transportation company’s stock worth $2,236,347,000 after buying an additional 2,227,390 shares in the last quarter. FMR LLC increased its position in Canadian National Railway by 9.9% in the fourth quarter. FMR LLC now owns 15,534,610 shares of the transportation company’s stock worth $1,045,474,000 after buying an additional 1,393,558 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in Canadian National Railway by 54.1% in the first quarter. William Blair Investment Management LLC now owns 3,322,147 shares of the transportation company’s stock worth $244,625,000 after buying an additional 1,165,992 shares in the last quarter. Institutional investors own 55.16% of the company’s stock.
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About Canadian National Railway
Canadian National Railway Company 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 and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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