Scotiabank Forecasts Strong Price Appreciation for Canadian National Railway (TSE:CNR) Stock

Canadian National Railway (TSE:CNR) (NYSE:CNI) had its price objective increased by equities researchers at Scotiabank from C$160.00 to C$163.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 18.20% from the company’s current price.

Several other research analysts also recently issued reports on the stock. CIBC upped their target price on shares of Canadian National Railway from C$151.00 to C$154.00 in a research note on Thursday, January 8th. Desjardins reduced their price target on shares of Canadian National Railway from C$161.00 to C$160.00 and set a “buy” rating for the company in a research report on Monday, January 12th. Vertical Research raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. cut their target price on Canadian National Railway from C$154.00 to C$153.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Finally, Citigroup lifted their target price on Canadian National Railway from C$119.00 to C$120.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$153.53.

Canadian National Railway Trading Up 0.4%

Canadian National Railway stock opened at C$137.90 on Wednesday. Canadian National Railway has a 12 month low of C$126.11 and a 12 month high of C$154.56. The company has a market capitalization of C$84.88 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.38 and a beta of 0.80. The business’s fifty day simple moving average is C$135.15 and its two-hundred day simple moving average is C$133.62. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 107.59.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last posted its quarterly earnings results on Friday, October 31st. The company reported C$1.83 earnings per share (EPS) for the quarter. The firm had revenue of C$4.17 billion during the quarter. Canadian National Railway had a return on equity of 27.10% and a net margin of 31.20%. As a group, equities analysts predict that Canadian National Railway will post 8.2610275 earnings per share for the current fiscal year.

Canadian National Railway Company Profile

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.