Canadian National Railway (NYSE:CNI) Upgraded to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat Ratings reports. Jefferies Financial Group currently has $120.00 price target on the transportation company’s stock.

Several other research firms have also commented on CNI. Stephens reiterated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Susquehanna cut their price target on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.94.

Canadian National Railway Stock Performance

NYSE CNI opened at $99.86 on Friday. The business has a 50 day moving average price of $106.41 and a 200 day moving average price of $112.50. The company has a market capitalization of $62.83 billion, a P/E ratio of 16.00, a PEG ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 1-year low of $98.96 and a 1-year high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

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

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s payout ratio is currently 38.14%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares during the period. 1832 Asset Management L.P. increased its position in shares of Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after acquiring an additional 674,536 shares in the last quarter. JARISLOWSKY FRASER Ltd raised its stake in shares of Canadian National Railway by 1.2% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after acquiring an additional 99,716 shares during the period. National Bank of Canada FI lifted its holdings in shares of Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after acquiring an additional 2,137,948 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in Canadian National Railway by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock worth $642,828,000 after purchasing an additional 39,063 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

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.