Canadian National Railway (CNI) Rating Lowered to Neutral at Bank of America

Canadian National Railway (NYSE:CNI) (TSE:CNR) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat reports.

Several other analysts have also recently weighed in on the stock. Barclays dropped their price objective on shares of Canadian National Railway from $80.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 25th. Stifel Nicolaus set a $83.00 price objective on shares of Canadian National Railway and gave the stock a “hold” rating in a research note on Tuesday, July 24th. ValuEngine cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, August 7th. Finally, Credit Suisse Group lifted their price objective on shares of Canadian National Railway from $85.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $91.98.

NYSE CNI opened at $84.71 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.54. The stock has a market cap of $62.20 billion, a PE ratio of 22.06, a P/E/G ratio of 2.18 and a beta of 1.03. Canadian National Railway has a 52-week low of $70.59 and a 52-week high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, July 24th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.46. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Canadian National Railway had a net margin of 42.08% and a return on equity of 22.90%. Canadian National Railway’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. As a group, equities research analysts expect that Canadian National Railway will post 4.17 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CNI. Cubist Systematic Strategies LLC bought a new position in Canadian National Railway in the 1st quarter valued at about $117,000. Private Capital Group LLC increased its holdings in Canadian National Railway by 913.9% in the 1st quarter. Private Capital Group LLC now owns 1,673 shares of the transportation company’s stock valued at $122,000 after buying an additional 1,508 shares during the period. Assetmark Inc. increased its holdings in Canadian National Railway by 73.7% in the 1st quarter. Assetmark Inc. now owns 1,947 shares of the transportation company’s stock valued at $142,000 after buying an additional 826 shares during the period. Quad Cities Investment Group LLC bought a new position in Canadian National Railway in the 2nd quarter valued at about $165,000. Finally, First Hawaiian Bank bought a new position in Canadian National Railway in the 3rd quarter valued at about $175,000. Institutional investors and hedge funds own 53.98% of the company’s stock.

Canadian National Railway Company Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Analyst Recommendations for Canadian National Railway (NYSE:CNI)

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