Brokerages Set Canadian National Railway Company (NYSE:CNI) PT at $122.04

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) has been assigned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $122.0360.

Several analysts have commented on the company. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce upped their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 9th. Weiss Ratings downgraded Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Citigroup upped their price objective on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada upped their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th.

Canadian National Railway Stock Up 0.6%

Canadian National Railway stock opened at $119.02 on Friday. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $122.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The company has a market capitalization of $72.21 billion, a P/E ratio of 21.64, a PEG ratio of 2.28 and a beta of 0.96. The stock has a 50-day simple moving average of $113.32 and a 200-day simple moving average of $105.54.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $1.85 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts expect that Canadian National Railway will post 5.76 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is 48.55%.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently modified their holdings of the business. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $27,000. Costello Asset Management INC raised its stake in shares of Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after buying an additional 150 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. MidFirst Bank purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.