Canadian National Railway (NYSE:CNI) Sees Strong Trading Volume

Canadian National Railway (NYSE:CNI) (TSE:CNR) shares saw unusually-high trading volume on Friday . Approximately 63,421 shares were traded during trading, a decline of 94% from the previous session’s volume of 1,077,602 shares.The stock last traded at $106.95 and had previously closed at $111.05.

CNI has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Canadian National Railway from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday, April 27th. Credit Suisse Group cut their price objective on Canadian National Railway from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Monday, May 3rd. National Bank Financial reaffirmed a “sector perform” rating on shares of Canadian National Railway in a report on Wednesday, April 21st. Evercore ISI raised Canadian National Railway from an “in-line” rating to an “outperform” rating in a report on Thursday, February 25th. Finally, The Goldman Sachs Group raised Canadian National Railway from a “neutral” rating to a “buy” rating in a report on Wednesday, March 10th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $128.94.

The firm has a market capitalization of $76.09 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83. The business has a 50-day moving average of $113.75 and a 200 day moving average of $110.48. The company has a current ratio of 1.05, a quick ratio of 0.85 and a debt-to-equity ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Sunday, April 25th. The transportation company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.01). Canadian National Railway had a net margin of 24.90% and a return on equity of 19.55%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that Canadian National Railway will post 4.1 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 9th will be given a $0.4964 dividend. This represents a $1.99 dividend on an annualized basis and a yield of 1.85%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, June 8th. Canadian National Railway’s payout ratio is presently 29.61%.

Institutional investors and hedge funds have recently modified their holdings of the business. Todd Asset Management LLC increased its holdings in Canadian National Railway by 3.2% during the 4th quarter. Todd Asset Management LLC now owns 205,082 shares of the transportation company’s stock worth $22,528,000 after purchasing an additional 6,395 shares in the last quarter. WCM Investment Management LLC increased its holdings in Canadian National Railway by 17.8% during the 4th quarter. WCM Investment Management LLC now owns 2,357,863 shares of the transportation company’s stock worth $259,011,000 after purchasing an additional 355,860 shares in the last quarter. K.J. Harrison & Partners Inc increased its holdings in Canadian National Railway by 2.9% during the 4th quarter. K.J. Harrison & Partners Inc now owns 14,287 shares of the transportation company’s stock worth $1,567,000 after purchasing an additional 400 shares in the last quarter. First Trust Advisors LP bought a new stake in Canadian National Railway during the 4th quarter worth approximately $54,001,000. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in Canadian National Railway by 101.3% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 371,360 shares of the transportation company’s stock worth $43,070,000 after purchasing an additional 186,878 shares in the last quarter. 54.23% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway (NYSE:CNI)

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

See Also: What is required to own or exchange cryptocurrency?

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.