Canadian National Railway (NYSE:CNI) Given “Equal Weight” Rating at Stephens

Stephens restated their equal weight rating on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $116.00 price objective on the transportation company’s stock.

Several other equities research analysts also recently commented on CNI. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Citigroup initiated coverage on Canadian National Railway in a report on Wednesday, October 9th. They set a “neutral” rating and a $125.00 price target for the company. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. Sanford C. Bernstein cut their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.10.

Canadian National Railway Trading Down 0.2 %

NYSE:CNI opened at $111.99 on Wednesday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $116.02 and a two-hundred day moving average price of $119.72. The company has a market cap of $70.53 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. As a group, analysts expect that Canadian National Railway will post 5.5 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is currently 39.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CNI. 1832 Asset Management L.P. boosted its stake in 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 buying an additional 674,536 shares in the last quarter. Capital International Investors boosted its stake in Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its stake in Canadian National Railway by 1.2% in 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 buying an additional 99,716 shares in the last quarter. Fiera Capital Corp boosted its stake in Canadian National Railway by 13.3% in the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after buying an additional 638,817 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Canadian National Railway by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after buying an additional 120,453 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

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.