Canadian National Railway’s (CNI) Neutral Rating Reaffirmed at Credit Suisse Group AG
Canadian National Railway (NYSE:CNI) (TSE:CNR)‘s stock had its “neutral” rating reissued by research analysts at Credit Suisse Group AG in a research report issued to clients and investors on Sunday. They presently have a $78.00 target price on the transportation company’s stock, up from their previous target price of $77.00. Credit Suisse Group AG’s target price points to a potential upside of 1.29% from the stock’s current price.
A number of other brokerages also recently weighed in on CNI. Wells Fargo & Co started coverage on Canadian National Railway in a report on Monday, March 13th. They set a “market perform” rating for the company. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Friday, February 24th. Stifel Nicolaus increased their price target on Canadian National Railway from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, April 25th. Cowen and Company increased their price target on Canadian National Railway from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, April 25th. Finally, Scotiabank upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Friday, March 3rd. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $80.06.
Canadian National Railway (NYSE:CNI) traded down 0.61% on Friday, reaching $77.01. The company’s stock had a trading volume of 928,145 shares. The firm’s 50-day moving average price is $74.23 and its 200-day moving average price is $70.70. Canadian National Railway has a 52-week low of $55.73 and a 52-week high of $77.53. The stock has a market cap of $58.23 billion, a price-to-earnings ratio of 21.70 and a beta of 1.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a dividend of $0.3059 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.22 annualized dividend and a dividend yield of 1.59%. Canadian National Railway’s dividend payout ratio is currently 31.73%.
Several institutional investors have recently bought and sold shares of CNI. Kistler Tiffany Companies LLC boosted its position in Canadian National Railway by 81.9% in the second quarter. Kistler Tiffany Companies LLC now owns 1,699 shares of the transportation company’s stock valued at $100,000 after buying an additional 765 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Canadian National Railway by 598.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,404 shares of the transportation company’s stock valued at $104,000 after buying an additional 1,203 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in Canadian National Railway by 8.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,638 shares of the transportation company’s stock valued at $107,000 after buying an additional 132 shares in the last quarter. Bessemer Group Inc. boosted its position in Canadian National Railway by 119.4% in the first quarter. Bessemer Group Inc. now owns 1,968 shares of the transportation company’s stock valued at $123,000 after buying an additional 1,071 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in Canadian National Railway during the first quarter valued at approximately $123,000. 55.16% of the stock is currently owned by hedge funds and other institutional investors.
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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