Posted by MarketBeat News on Oct 1st, 2023
Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) had its price objective cut by Scotiabank from C$172.00 to C$170.00 in a report released on Wednesday morning, MarketBeat.com reports. They currently have a sector perform rating on the transportation company’s stock.
A number of other equities analysts have also commented on CNI. Susquehanna decreased their price objective on shares of Canadian National Railway from $122.00 to $120.00 in a research note on Wednesday, July 26th. Raymond James upgraded shares of Canadian National Railway from a market perform rating to an outperform rating in a report on Thursday, September 14th. Evercore ISI cut their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an in-line rating on the stock in a report on Thursday, September 21st. Barclays dropped their target price on shares of Canadian National Railway from $122.00 to $119.00 in a report on Wednesday, July 26th. Finally, StockNews.com assumed coverage on shares of Canadian National Railway in a report on Thursday, August 17th. They issued a hold rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $145.88.
Canadian National Railway Stock Performance
Shares of NYSE CNI opened at $108.33 on Wednesday. Canadian National Railway has a 12-month low of $103.79 and a 12-month high of $129.89. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.78. The company has a market cap of $70.80 billion, a PE ratio of 18.55, a P/E/G ratio of 2.98 and a beta of 0.91. The stock has a 50 day simple moving average of $113.87 and a 200-day simple moving average of $116.55.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its earnings results on Tuesday, July 25th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.06). The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Canadian National Railway had a return on equity of 24.62% and a net margin of 30.21%. On average, equities research analysts forecast that Canadian National Railway will post 5.55 EPS for the current year.
Canadian National Railway Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were given a dividend of $0.5996 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. Canadian National Railway’s payout ratio is 39.55%.
Hedge Funds Weigh In On Canadian National Railway
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNI. Citigroup Inc. raised its stake in shares of Canadian National Railway by 8.1% in the first quarter. Citigroup Inc. now owns 146,378 shares of the transportation company’s stock worth $17,248,000 after acquiring an additional 10,907 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Canadian National Railway in the first quarter valued at approximately $214,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Canadian National Railway by 9.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,017 shares of the transportation company’s stock valued at $474,000 after buying an additional 330 shares during the period. Global Retirement Partners LLC boosted its holdings in Canadian National Railway by 64.4% during the first quarter. Global Retirement Partners LLC now owns 518 shares of the transportation company’s stock worth $61,000 after purchasing an additional 203 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Canadian National Railway by 2.4% during the first quarter. Stifel Financial Corp now owns 916,980 shares of the transportation company’s stock worth $108,177,000 after purchasing an additional 21,379 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.
About Canadian National Railway
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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