Canadian National Railway (NYSE:CNI) Given New $124.00 Price Target at Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target upped by Citigroup from $117.00 to $124.00 in a research note published on Monday,BayStreet.CA reports. They currently have a buy rating on the transportation company’s stock.

CNI has been the subject of several other reports. Jefferies Financial Group decreased their target price on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Susquehanna raised shares of Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 price target on the stock in a report on Tuesday, May 6th. Barclays cut their price target on shares of Canadian National Railway from $104.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Stephens upped their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Raymond James cut shares of Canadian National Railway from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.36.

Canadian National Railway Price Performance

Shares of CNI stock opened at $104.35 on Monday. The company has a market capitalization of $65.58 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The firm has a fifty day simple moving average of $101.50 and a 200-day simple moving average of $102.04. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a twelve month low of $91.65 and a twelve month high of $125.87.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a yield of 2.47%. This is a boost from Canadian National Railway’s previous dividend of $0.29. Canadian National Railway’s dividend payout ratio (DPR) is currently 50.29%.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently bought and sold shares of the business. Quintet Private Bank Europe S.A. bought a new position in Canadian National Railway in the fourth quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $30,000. Addison Advisors LLC raised its holdings in shares of Canadian National Railway by 80.2% during the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $32,000. Institutional investors own 80.74% of the company’s stock.

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.