Canadian National Railway (NYSE:CNI) Given New $121.00 Price Target at Barclays

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target boosted by Barclays from $120.00 to $121.00 in a report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Other equities analysts have also recently issued research reports about the company. Bank of America dropped their price target on Canadian National Railway from $132.00 to $129.00 and set a buy rating on the stock in a research report on Wednesday, September 11th. National Bank Financial raised Canadian National Railway from a sector perform rating to an outperform rating in a report on Thursday, June 27th. Wells Fargo & Company decreased their price target on Canadian National Railway from $130.00 to $125.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. Scotiabank upgraded shares of Canadian National Railway from a hold rating to a strong-buy rating in a research report on Wednesday, July 10th. Finally, Benchmark restated a hold rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $132.76.

Canadian National Railway Stock Performance

Shares of CNI opened at $116.43 on Wednesday. The company’s 50 day simple moving average is $115.71 and its 200-day simple moving average is $121.74. The firm has a market cap of $73.32 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. As a group, equities analysts predict that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a dividend of $0.614 per share. The ex-dividend date was Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.11%. Canadian National Railway’s payout ratio is currently 39.08%.

Hedge Funds Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently bought and sold shares of CNI. Sanctuary Advisors LLC acquired a new stake in Canadian National Railway in the second quarter valued at $3,557,000. Cetera Investment Advisers increased its holdings in Canadian National Railway by 1.7% during the 2nd quarter. Cetera Investment Advisers now owns 59,799 shares of the transportation company’s stock valued at $7,064,000 after acquiring an additional 984 shares in the last quarter. Ted Buchan & Co purchased a new position in Canadian National Railway during the 2nd quarter valued at about $215,000. Truist Financial Corp raised its position in Canadian National Railway by 6.4% during the second quarter. Truist Financial Corp now owns 25,546 shares of the transportation company’s stock worth $3,018,000 after acquiring an additional 1,534 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Canadian National Railway by 10.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 4,573 shares of the transportation company’s stock valued at $540,000 after purchasing an additional 417 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.