Wells Fargo & Company Issues Positive Forecast for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target raised by Wells Fargo & Company from $110.00 to $135.00 in a research note published on Wednesday morning, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the transportation company’s stock.

Several other research firms have also recently weighed in on CNI. Citigroup raised their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America lifted their target price on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. National Bank Financial set a $124.00 price target on Canadian National Railway in a report on Thursday, June 25th. Weiss Ratings upgraded Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Finally, Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective for the company in a report on Thursday, June 25th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of $128.40.

Canadian National Railway Trading Down 0.0%

Shares of CNI stock opened at $122.75 on Wednesday. The company has a market capitalization of $74.47 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.31 and a beta of 0.96. Canadian National Railway has a 12-month low of $90.74 and a 12-month high of $123.00. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $116.47 and a 200 day moving average price of $108.36.

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

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s payout ratio is 48.55%.

Institutional Trading of Canadian National Railway

Large investors have recently bought and sold shares of the business. High Point Wealth Management LLC bought a new position in shares of Canadian National Railway during the fourth quarter worth about $27,000. Curio Wealth LLC bought a new stake in Canadian National Railway in the 4th quarter valued at approximately $31,000. MidFirst Bank bought a new stake in Canadian National Railway in the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in shares of Canadian National Railway in the first quarter worth $37,000. 80.74% of the stock is owned by institutional investors.

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.