Short Interest in Canadian National Railway (NYSE:CNI) Declines By 12.0%

Canadian National Railway (NYSE:CNI) (TSE:CNR) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,900,000 shares, a drop of 12.0% from the November 15th total of 2,160,000 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is currently 1.5 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a report on Monday, October 7th. Susquehanna decreased their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Barclays raised their price target on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI decreased their target price on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.86.

Canadian National Railway Price Performance

NYSE:CNI traded up $0.23 during trading hours on Tuesday, reaching $103.00. The stock had a trading volume of 1,047,220 shares, compared to its average volume of 1,145,798. Canadian National Railway has a 52 week low of $102.29 and a 52 week high of $134.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The company has a 50 day moving average price of $110.19 and a two-hundred day moving average price of $114.90. The stock has a market capitalization of $64.80 billion, a PE ratio of 16.51, a PEG ratio of 2.43 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.37%. Canadian National Railway’s dividend payout ratio is 38.30%.

Hedge Funds Weigh In On Canadian National Railway

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Canadian National Railway by 7.8% during the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after purchasing an additional 674,536 shares in the last quarter. JARISLOWSKY FRASER Ltd lifted its holdings in Canadian National Railway by 1.2% during the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock worth $1,017,315,000 after buying an additional 99,716 shares during the period. National Bank of Canada FI boosted its position in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of Canadian National Railway by 0.7% during the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after buying an additional 39,063 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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.