Canadian National Railway (NYSE:CNI) Stock Rating Lowered by Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Briefing.com reports. They currently have a $122.00 target price on the transportation company’s stock, down from their previous target price of $129.00. Bank of America‘s price objective would suggest a potential upside of 6.80% from the company’s current price.

Several other research analysts have also recently weighed in on CNI. Wells Fargo & Company dropped their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Evercore ISI dropped their target price on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating for the company in a research report on Wednesday, September 25th. Barclays raised their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Stifel Nicolaus dropped their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Finally, National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Seventeen analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $132.26.

Canadian National Railway Trading Down 1.5 %

CNI stock opened at $114.23 on Friday. The business has a fifty day moving average price of $115.57 and a 200 day moving average price of $121.43. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The stock has a market capitalization of $71.93 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.46 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS. Analysts expect that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors have recently modified their holdings of CNI. Royal London Asset Management Ltd. grew its holdings in Canadian National Railway by 1.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock worth $201,351,000 after buying an additional 17,083 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Canadian National Railway during the second quarter worth about $134,096,000. Koshinski Asset Management Inc. bought a new stake in Canadian National Railway in the 1st quarter worth about $627,000. Virtu Financial LLC purchased a new stake in Canadian National Railway in the 4th quarter valued at about $816,000. Finally, Mediolanum International Funds Ltd bought a new position in shares of Canadian National Railway during the 1st quarter worth approximately $4,451,000. 80.74% of the stock is owned by 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.