Canadian National Railway (NYSE:CNI) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp started coverage on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research note released on Wednesday, Marketbeat.com reports. The firm issued a market perform rating on the transportation company’s stock.

A number of other analysts have also issued reports on the company. Canadian Imperial Bank of Commerce increased their target price on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a report on Thursday, June 25th. Susquehanna reissued a “neutral” rating and set a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday. Weiss Ratings downgraded Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Barclays raised their price objective on Canadian National Railway from $99.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Finally, Wells Fargo & Company lifted their target price on Canadian National Railway from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average price target of $132.12.

Canadian National Railway Stock Down 0.6%

NYSE CNI opened at $124.08 on Wednesday. Canadian National Railway has a 12 month low of $90.74 and a 12 month high of $126.12. The company has a market capitalization of $75.19 billion, a P/E ratio of 22.56, a PEG ratio of 2.37 and a beta of 0.96. The company’s 50 day simple moving average is $117.79 and its 200 day simple moving average is $109.28. 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 (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $1.85 EPS. Canadian National Railway’s revenue was down .5% on a year-over-year basis. Equities research analysts expect that Canadian National Railway will post 5.68 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

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

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of CNI. Vanguard Group Inc. lifted its position in shares of Canadian National Railway by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company’s stock worth $2,437,679,000 after buying an additional 346,670 shares during the last quarter. FIL Ltd increased its holdings in shares of Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares during the last quarter. Caisse de depot et placement du Quebec increased its holdings in shares of Canadian National Railway by 1.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock valued at $1,310,600,000 after acquiring an additional 157,000 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Canadian National Railway by 2.0% in the 1st quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company’s stock valued at $934,488,000 after acquiring an additional 173,894 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Canadian National Railway by 15.1% in the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after acquiring an additional 1,182,106 shares in the last quarter. 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.