Barclays Forecasts Strong Price Appreciation for Canadian National Railway (NYSE:CNI) Stock

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective raised by investment analysts at Barclays from $99.00 to $109.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective indicates a potential downside of 9.42% from the company’s previous close.

A number of other research firms also recently commented on CNI. Weiss Ratings upgraded Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Evercore raised shares of 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. Canadian Imperial Bank of Commerce raised their price target on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research report on Thursday. National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a report on Thursday. Finally, Royal Bank Of Canada boosted their price objective on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.12.

Canadian National Railway Stock Up 3.8%

Shares of CNI stock traded up $4.42 on Thursday, hitting $120.33. The stock had a trading volume of 1,819,438 shares, compared to its average volume of 1,619,559. The stock’s 50 day moving average is $114.57 and its 200-day moving average is $106.74. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.20 and a beta of 0.96. Canadian National Railway has a 52-week low of $90.74 and a 52-week high of $122.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting the consensus estimate of $1.31. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 EPS. As a group, research analysts expect that Canadian National Railway will post 5.76 earnings per share for the current year.

Institutional Investors Weigh In On Canadian National Railway

Several large investors have recently made changes to their positions in the company. Minot DeBlois Advisors LLC raised its holdings in shares of Canadian National Railway by 2.0% during the fourth quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock valued at $507,000 after buying an additional 103 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Canadian National Railway by 19.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock worth $63,000 after buying an additional 103 shares in the last quarter. Tacita Capital Inc increased its position in Canadian National Railway by 0.6% in the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock valued at $1,960,000 after acquiring an additional 109 shares during the period. Roberts Glore & Co. Inc. IL increased its position in Canadian National Railway by 1.5% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock valued at $715,000 after acquiring an additional 110 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Canadian National Railway by 10.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 113 shares during the period. 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.