Citigroup Issues Positive Forecast for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price increased by Citigroup from $124.00 to $141.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the transportation company’s stock.

Several other research firms also recently commented on CNI. Weiss Ratings raised shares of Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a report on Wednesday. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a report on Thursday, June 25th. Canadian Imperial Bank of Commerce increased their target price on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Finally, Barclays raised their target price on Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $129.94.

Canadian National Railway Stock Up 1.3%

CNI opened at $124.29 on Thursday. The company has a market capitalization of $75.41 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $125.04. The business has a 50-day moving average of $116.66 and a 200-day moving average of $108.54.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 earnings per share. Equities research analysts forecast that Canadian National Railway will post 5.75 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is 48.55%.

Hedge Funds Weigh In On Canadian National Railway

Several large investors have recently made changes to their positions in CNI. High Point Wealth Management LLC bought a new stake in Canadian National Railway during the 4th quarter valued at approximately $27,000. Curio Wealth LLC bought a new position in Canadian National Railway in the 4th quarter worth approximately $31,000. MidFirst Bank acquired a new position in shares of Canadian National Railway during the fourth quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in shares of Canadian National Railway in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.