Wells Fargo & Company Has Lowered Expectations for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price cut by research analysts at Wells Fargo & Company from $117.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 13.55% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Argus upgraded Canadian National Railway to a “hold” rating in a research note on Friday, June 27th. Barclays decreased their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Royal Bank Of Canada decreased their target price on Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Finally, National Bank Financial lowered Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $116.11.

Canadian National Railway Stock Performance

NYSE:CNI opened at $96.87 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway has a 52-week low of $91.07 and a 52-week high of $116.79. The firm has a market cap of $60.14 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.16 and a beta of 0.96. The business’s fifty day moving average is $94.42 and its 200 day moving average is $99.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 earnings per share. Research analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Hedge Funds Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Union Bancaire Privee UBP SA grew its position in Canadian National Railway by 10.7% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,620 shares of the transportation company’s stock worth $4,491,000 after acquiring an additional 4,596 shares during the last quarter. Gradient Investments LLC grew its position in Canadian National Railway by 77.3% during the 3rd quarter. Gradient Investments LLC now owns 11,723 shares of the transportation company’s stock worth $1,105,000 after acquiring an additional 5,111 shares during the last quarter. Cardinal Capital Management Inc. grew its position in Canadian National Railway by 1.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock worth $70,038,000 after acquiring an additional 10,880 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Canadian National Railway by 10.8% in the 2nd quarter. Corient Private Wealth LLC now owns 21,623 shares of the transportation company’s stock worth $2,250,000 after buying an additional 2,104 shares during the period. Finally, Caldwell Trust Co purchased a new stake in Canadian National Railway in the 2nd quarter worth approximately $68,000. 80.74% of the stock is currently owned by institutional investors.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.