Bank of America Has Lowered Expectations for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target dropped by investment analysts at Bank of America from $119.00 to $112.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price would indicate a potential upside of 8.50% from the stock’s previous close.

Several other research firms have also commented on CNI. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Finally, Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $124.19.

Canadian National Railway Trading Down 1.1 %

Canadian National Railway stock traded down $1.11 during trading on Wednesday, reaching $103.23. 243,358 shares of the company were exchanged, compared to its average volume of 969,547. The stock’s 50 day simple moving average is $106.84 and its two-hundred day simple moving average is $112.77. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The company has a market capitalization of $64.95 billion, a P/E ratio of 16.54, a PEG ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 52-week low of $98.96 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. On average, equities research analysts expect that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Institutional Trading of Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd boosted its position in Canadian National Railway by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock valued at $1,822,000 after purchasing an additional 4,698 shares during the period. Unigestion Holding SA boosted its holdings in shares of Canadian National Railway by 363.6% during the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after acquiring an additional 120,687 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Canadian National Railway by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after acquiring an additional 21,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Canadian National Railway by 5.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after purchasing an additional 202,303 shares during the last quarter. Finally, Partners Group Holding AG boosted its stake in Canadian National Railway by 16.3% during the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after purchasing an additional 56,849 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.