Wells Fargo & Company Cuts Canadian National Railway (NYSE:CNI) Price Target to $125.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective lowered by Wells Fargo & Company from $133.00 to $125.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm currently has an overweight rating on the transportation company’s stock.

Several other analysts have also recently commented on CNI. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their target price for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Barclays raised their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group dropped their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price target for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Finally, Stifel Nicolaus increased their price objective on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.48.

Canadian National Railway Stock Down 1.8 %

CNI opened at $102.47 on Tuesday. Canadian National Railway has a 52 week low of $98.96 and a 52 week high of $134.02. The business has a 50 day moving average price of $106.58 and a two-hundred day moving average price of $112.63. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The company has a market cap of $64.47 billion, a PE ratio of 16.42, a P/E/G ratio of 2.43 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate 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 in the prior year, the business earned $1.26 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s payout ratio is currently 38.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in 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 valued at $2,175,935,000 after buying an additional 790,420 shares during the last quarter. 1832 Asset Management L.P. lifted 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 valued at $1,106,361,000 after acquiring an additional 674,536 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its stake in shares of Canadian National Railway by 1.2% during the second 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 last quarter. National Bank of Canada FI increased its position in 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 worth $789,030,000 after purchasing an additional 2,137,948 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Canadian National Railway by 0.7% in the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after purchasing an additional 39,063 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.