Posted by MarketBeat News on Oct 5th, 2023
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. They presently have a $115.00 target price on the transportation company’s stock, down from their previous target price of $131.00. Bank of America‘s price objective would suggest a potential upside of 8.03% from the company’s current price.
CNI has been the subject of several other research reports. StockNews.com initiated coverage on Canadian National Railway in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Raymond James upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 14th. Royal Bank of Canada cut Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 31st. Stifel Nicolaus dropped their price target on Canadian National Railway from $125.00 to $122.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Barclays dropped their price target on Canadian National Railway from C$160.00 to C$150.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $145.65.
Canadian National Railway Trading Up 0.3 %
NYSE:CNI opened at $106.45 on Thursday. The stock has a fifty day moving average price of $113.13 and a two-hundred day moving average price of $116.34. The stock has a market capitalization of $69.58 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.72 and a current ratio of 0.93. Canadian National Railway has a 1 year low of $103.79 and a 1 year high of $129.89.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 25th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.06). The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Canadian National Railway had a return on equity of 24.62% and a net margin of 30.21%. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.51 earnings per share for the current fiscal year.
Institutional Trading of Canadian National Railway
A number of hedge funds have recently added to or reduced their stakes in CNI. BCK Partners Inc. acquired a new stake in Canadian National Railway in the 1st quarter worth about $2,575,000. BlackRock Inc. boosted its stake in Canadian National Railway by 26.2% in the 1st quarter. BlackRock Inc. now owns 931,027 shares of the transportation company’s stock worth $124,888,000 after buying an additional 193,116 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Canadian National Railway by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 762,341 shares of the transportation company’s stock worth $102,260,000 after buying an additional 22,984 shares during the last quarter. Blair William & Co. IL boosted its stake in Canadian National Railway by 1.4% in the 1st quarter. Blair William & Co. IL now owns 60,441 shares of the transportation company’s stock worth $8,107,000 after buying an additional 807 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Canadian National Railway by 18.9% in the 1st quarter. Allianz Asset Management GmbH now owns 33,602 shares of the transportation company’s stock worth $4,511,000 after buying an additional 5,349 shares during the last quarter. 67.60% 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 rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.
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