Canadian National Railway (NYSE:CNI) Given New $123.00 Price Target at Wells Fargo & Company

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target cut by Wells Fargo & Company from $125.00 to $123.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on CNI. 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 note on Wednesday, October 23rd. Sanford C. Bernstein reduced their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Stephens restated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $174.00 price target on shares of Canadian National Railway in a report on Friday, January 10th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Moderate Buy” and an average target price of $125.77.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $100.73 on Monday. The firm has a market capitalization of $63.34 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The firm has a 50 day moving average of $106.08 and a 200 day moving average of $112.17. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

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

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s payout ratio is currently 38.14%.

Hedge Funds Weigh In On Canadian National Railway

A number of institutional investors have recently bought and sold shares of CNI. Nexus Investment Management ULC grew its stake in shares of Canadian National Railway by 542.0% during the 4th quarter. Nexus Investment Management ULC now owns 278,462 shares of the transportation company’s stock worth $28,213,000 after purchasing an additional 235,085 shares during the period. Trust Co. of Vermont raised its holdings in shares of Canadian National Railway by 72.4% during the 4th quarter. Trust Co. of Vermont now owns 4,428 shares of the transportation company’s stock worth $449,000 after acquiring an additional 1,860 shares during the period. Canoe Financial LP purchased a new stake in Canadian National Railway in the 4th quarter valued at about $216,943,000. Cvfg LLC purchased a new stake in Canadian National Railway in the 4th quarter valued at about $219,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in Canadian National Railway by 2.3% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 490,939 shares of the transportation company’s stock valued at $49,853,000 after buying an additional 11,004 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.