Zacks restated their neutral rating on shares of Canadian National Railway (NYSE:CNI) in a research note issued to investors on Thursday, StockRatingsNetwork reports. The firm currently has a $58.00 price target on the stock.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Canadian National Railway. The company’s third quarter top and bottom line figures were ahead of the Zacks Consensus Estimate and improved year over year. We believe Canadian National has improved on technological innovation and industry consolidation. These improvements have resulted in better service levels, enabling it to hike freight rates, while gaining market share from highway to rail freight conversions. In addition, the company also focuses on cost savings and service, which have consistently improved its profitability. Despite improved operational metrics, we are concerned about the company’s near-term prospects due to weakness in some of the product lines along with estimated higher expenses, competitive pressure and uncertainties in market conditions.”
Zacks has also taken action a number of other services stocks recently. The firm upgraded shares of Synergetics Usa Incorporated from an underperform rating to a neutral rating. The firm now has a $4.20 price target on that stock. Also, Zacks upgraded shares of Lantronix from an underperform rating to a neutral rating. Zacks now has a $1.80 price target on that stock. Finally, Zacks upgraded shares of Elbit Systems Ltd. from a neutral rating to an outperform rating. Zacks now has a $59.30 price target on that stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at TD Securities raised their price target on shares of Canadian National Railway from $110.00 to $113.00 in a research note to investors on Wednesday, October 23rd. Separately, analysts at Scotiabank reiterated a sector outperform rating on shares of Canadian National Railway in a research note to investors on Wednesday, October 23rd. They now have a $120.00 price target on the stock, up previously from $113.00. Finally, analysts at Raymond James raised their price target on shares of Canadian National Railway from $115.00 to $118.00 in a research note to investors on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Canadian National Railway has a consensus rating of Hold and a consensus price target of $106.53.
Shares of Canadian National Railway (NYSE:CNI) opened at 55.83 on Thursday. Canadian National Railway has a 52 week low of $44.88 and a 52 week high of $58.40. The stock’s 50-day moving average is $55.5 and its 200-day moving average is $51.19. The company has a market cap of $23.337 billion and a price-to-earnings ratio of 9.03.
Canadian National Railway (NYSE:CNI) last released its earnings data on Tuesday, October 22nd. The company reported $1.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.63 by $0.09. The company had revenue of $2.70 billion for the quarter. During the same quarter last year, the company posted $1.52 earnings per share. Canadian National Railway’s revenue was up 8.0% compared to the same quarter last year. Analysts expect that Canadian National Railway will post $3.11 EPS for the current fiscal year.
The company also recently announced a dividend, which is scheduled for Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, December 6th.
Canadian National Railway Company (NYSE:CNI) is engaged in the rail and related transportation business.
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