Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday, MarketBeat.com reports.
A number of other analysts also recently weighed in on CNI. Zacks Investment Research downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus restated a “hold” rating and set a $89.00 target price on shares of Canadian National Railway in a report on Friday, October 6th. Royal Bank of Canada restated an “outperform” rating on shares of Canadian National Railway in a report on Wednesday, October 25th. Desjardins upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Finally, Raymond James Financial cut shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $81.38.
Shares of Canadian National Railway (NYSE:CNI) traded up $0.73 during trading hours on Wednesday, hitting $79.23. 1,460,000 shares of the company were exchanged, compared to its average volume of 1,170,000. The firm has a market cap of $59,050.00, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.97 and a beta of 1.09. The company has a quick ratio of 0.49, a current ratio of 0.55 and a debt-to-equity ratio of 0.53. Canadian National Railway has a 1-year low of $68.27 and a 1-year high of $85.73.
Canadian National Railway declared that its board has authorized a stock repurchase plan on Tuesday, October 24th that permits the company to repurchase 31,000,000 shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the business. Kwmg LLC boosted its position in Canadian National Railway by 5.0% during the fourth quarter. Kwmg LLC now owns 26,095 shares of the transportation company’s stock worth $2,153,000 after purchasing an additional 1,242 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Canadian National Railway by 29.2% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,037 shares of the transportation company’s stock worth $1,076,000 after buying an additional 2,949 shares in the last quarter. Baskin Financial Services Inc. lifted its holdings in shares of Canadian National Railway by 10.8% during the fourth quarter. Baskin Financial Services Inc. now owns 10,712 shares of the transportation company’s stock worth $887,000 after buying an additional 1,040 shares in the last quarter. Lourd Capital LLC acquired a new stake in shares of Canadian National Railway during the fourth quarter worth $230,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Canadian National Railway during the fourth quarter worth $3,431,000. 53.42% of the stock is owned by hedge funds and other institutional investors.
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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.