Canadian Imperial Bank of Commerce Increases Canadian National Railway (NYSE:CNI) Price Target to C$185.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target raised by research analysts at Canadian Imperial Bank of Commerce from C$182.00 to C$185.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperformer” rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on CNI. Weiss Ratings raised Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Bank of America lifted their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research report on Thursday. Sanford C. Bernstein increased their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Finally, Citigroup raised their target price on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.21.

Canadian National Railway Stock Up 3.8%

Shares of Canadian National Railway stock traded up $4.36 during trading on Thursday, reaching $120.27. The stock had a trading volume of 938,296 shares, compared to its average volume of 1,611,939. The company has a market capitalization of $72.97 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.20 and a beta of 0.96. The stock has a fifty day moving average price of $114.57 and a two-hundred day moving average price of $106.74. Canadian National Railway has a 52 week low of $90.74 and a 52 week high of $122.48. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 last year, the company earned $1.85 earnings per share. Canadian National Railway’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts predict that Canadian National Railway will post 5.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ruggaard & Associates LLC lifted its stake in shares of Canadian National Railway by 18.1% during the 1st quarter. Ruggaard & Associates LLC now owns 3,927 shares of the transportation company’s stock worth $404,000 after buying an additional 601 shares during the last quarter. Summitry LLC acquired a new position in Canadian National Railway in the 1st quarter valued at about $22,149,000. Groupama Asset Managment grew its stake in Canadian National Railway by 4.3% in the 1st quarter. Groupama Asset Managment now owns 21,083 shares of the transportation company’s stock valued at $2,167,000 after buying an additional 863 shares during the last quarter. Western Wealth Management LLC bought a new position in Canadian National Railway in the 1st quarter valued at about $77,000. Finally, Edgestream Partners L.P. bought a new position in Canadian National Railway in the 1st quarter valued at about $202,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.