Canadian National Railway (NYSE:CNI) Price Target Raised to $120.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target hoisted by Citigroup from $119.00 to $120.00 in a research report report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the transportation company’s stock.

CNI has been the topic of several other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Susquehanna lifted their price objective on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Bank of America dropped their price objective on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian National Railway Price Performance

NYSE CNI opened at $96.01 on Monday. Canadian National Railway has a fifty-two week low of $91.07 and a fifty-two week high of $114.13. The stock’s 50-day moving average is $94.99 and its two-hundred day moving average is $98.66. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market cap of $59.40 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $1.72 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. On average, analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a yield of 3.7%. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.96%.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors have recently added to or reduced their stakes in the stock. Bennett Selby Investments LP boosted its holdings in Canadian National Railway by 2.2% during the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock valued at $499,000 after purchasing an additional 101 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in Canadian National Railway by 0.9% during the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company’s stock valued at $1,198,000 after purchasing an additional 108 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Canadian National Railway by 13.4% during the second quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock valued at $97,000 after purchasing an additional 110 shares in the last quarter. IFP Advisors Inc boosted its holdings in Canadian National Railway by 3.3% during the second quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock valued at $373,000 after purchasing an additional 115 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Canadian National Railway by 5.3% during the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock valued at $247,000 after purchasing an additional 119 shares in the last quarter. 80.74% of the stock is 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.