Canadian National Railway (NYSE:CNI) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a neutral rating to an overweight rating in a report released on Tuesday, Marketbeat reports.

Several other analysts have also weighed in on CNI. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Barclays boosted their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and a consensus target price of $122.48.

Canadian National Railway Price Performance

NYSE:CNI opened at $102.47 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a one year low of $98.96 and a one year high of $134.02. The company has a fifty day moving average price of $106.58 and a 200 day moving average price of $112.63. The stock has a market cap of $64.47 billion, a P/E ratio of 16.42, a PEG ratio of 2.43 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating 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 quarter in the prior year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNI. Private Advisor Group LLC raised its stake in shares of Canadian National Railway by 1.5% in the second quarter. Private Advisor Group LLC now owns 10,412 shares of the transportation company’s stock worth $1,230,000 after acquiring an additional 149 shares during the last quarter. Candriam S.C.A. lifted its holdings in Canadian National Railway by 18.2% during the 2nd quarter. Candriam S.C.A. now owns 25,290 shares of the transportation company’s stock worth $2,988,000 after buying an additional 3,901 shares in the last quarter. Caprock Group LLC bought a new position in Canadian National Railway in the 2nd quarter valued at $522,000. Choreo LLC increased its stake in shares of Canadian National Railway by 118.2% in the 2nd quarter. Choreo LLC now owns 14,021 shares of the transportation company’s stock valued at $1,637,000 after buying an additional 7,594 shares during the period. Finally, United Services Automobile Association raised its position in shares of Canadian National Railway by 1.4% during the second quarter. United Services Automobile Association now owns 19,998 shares of the transportation company’s stock worth $2,363,000 after acquiring an additional 285 shares during the last quarter. 80.74% of the stock is owned by 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.