Cowen Increases Canadian National Railway (NYSE:CNI) Price Target to $119.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective boosted by Cowen from $110.00 to $119.00 in a report issued on Monday, The Fly reports. Cowen currently has a market perform rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on CNI. Stifel Nicolaus initiated coverage on shares of Canadian National Railway in a research note on Monday, June 21st. They set a hold rating on the stock. Stephens increased their price objective on shares of Canadian National Railway from $114.00 to $120.00 and gave the stock an equal weight rating in a research note on Monday. Credit Suisse Group reduced their price objective on shares of Canadian National Railway from $121.00 to $112.00 and set an outperform rating on the stock in a research note on Wednesday, July 21st. Royal Bank of Canada initiated coverage on shares of Canadian National Railway in a research note on Friday. They set an outperform rating and a $168.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of Canadian National Railway from $119.00 to $115.00 and set an equal weight rating on the stock in a research note on Wednesday, July 14th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of Hold and a consensus price target of $140.56.

NYSE:CNI opened at $113.96 on Monday. Canadian National Railway has a 52 week low of $98.69 and a 52 week high of $128.41. The firm has a market cap of $80.79 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.18 and a beta of 0.81. The firm’s 50-day simple moving average is $110.70 and its 200 day simple moving average is $111.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Monday, July 19th. The transportation company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. Canadian National Railway had a net margin of 28.27% and a return on equity of 20.00%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the firm earned $1.28 earnings per share. Canadian National Railway’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Canadian National Railway will post 4.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 8th will be issued a dividend of $0.4827 per share. The ex-dividend date is Tuesday, September 7th. This represents a $1.93 annualized dividend and a yield of 1.69%. Canadian National Railway’s payout ratio is 48.99%.

A number of institutional investors have recently added to or reduced their stakes in CNI. Bank of Montreal Can raised its holdings in Canadian National Railway by 22.0% during the 2nd quarter. Bank of Montreal Can now owns 21,059,332 shares of the transportation company’s stock worth $2,241,343,000 after purchasing an additional 3,803,874 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Canadian National Railway in the 2nd quarter valued at $258,242,000. Jarislowsky Fraser Ltd increased its stake in shares of Canadian National Railway by 14.0% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 12,161,571 shares of the transportation company’s stock valued at $1,284,510,000 after acquiring an additional 1,494,019 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Canadian National Railway by 35.4% in the 1st quarter. Schroder Investment Management Group now owns 5,557,127 shares of the transportation company’s stock valued at $810,441,000 after acquiring an additional 1,452,508 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Canadian National Railway by 16.0% in the 1st quarter. Bank of New York Mellon Corp now owns 10,499,162 shares of the transportation company’s stock valued at $1,217,695,000 after acquiring an additional 1,444,880 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

About Canadian National Railway

Canadian National Railway Co engages in rail and related transportation business. The firm’s services include rail, intermodal, trucking, supply chain services, business development and maps and network. It offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.

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