Canadian National Railway (NYSE:CNI) Given New $114.00 Price Target at Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price lowered by Citigroup from $122.00 to $114.00 in a report released on Tuesday morning, MarketBeat Ratings reports. Citigroup currently has a buy rating on the transportation company’s stock.

CNI has been the topic of a number of other reports. Susquehanna dropped their target price on shares of Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America decreased their target price on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays dropped their price target on Canadian National Railway from $112.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.02.

Canadian National Railway Stock Performance

Shares of CNI opened at $92.58 on Tuesday. The stock has a 50 day moving average of $99.71 and a 200 day moving average of $105.34. The company has a market capitalization of $58.18 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.95 and a beta of 0.93. Canadian National Railway has a 12 month low of $91.65 and a 12 month high of $132.27. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. As a group, sell-side analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Monday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio (DPR) is 47.66%.

Hedge Funds Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNI. Quantinno Capital Management LP grew its holdings in shares of Canadian National Railway by 3.0% during the third quarter. Quantinno Capital Management LP now owns 24,986 shares of the transportation company’s stock worth $2,927,000 after purchasing an additional 720 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Canadian National Railway during the third quarter valued at approximately $823,000. Public Employees Retirement System of Ohio purchased a new position in Canadian National Railway in the 3rd quarter worth approximately $40,017,000. Geode Capital Management LLC increased its holdings in shares of Canadian National Railway by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company’s stock worth $302,895,000 after buying an additional 158,757 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Canadian National Railway by 64.5% during the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after buying an additional 584,832 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.