Evercore Upgrades Canadian National Railway (NYSE:CNI) to “Outperform”

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by analysts at Evercore from an “in-line” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat reports. The firm currently has a $124.00 price target on the transportation company’s stock. Evercore’s price objective points to a potential upside of 6.94% from the stock’s current price.

A number of other research analysts have also commented on the stock. Sanford C. Bernstein upped their price target on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian National Railway from C$164.00 to C$182.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada boosted their price objective on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Citigroup upped their target price on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Bank of America upped their target price on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.21.

Canadian National Railway Trading Up 0.9%

Shares of Canadian National Railway stock opened at $115.95 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The business has a fifty day simple moving average of $114.57 and a two-hundred day simple moving average of $106.74. Canadian National Railway has a 1 year low of $90.74 and a 1 year high of $122.48. The company has a market capitalization of $70.35 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.20 and a beta of 0.96.

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

Hedge Funds Weigh In On Canadian National Railway

Hedge funds have recently added to or reduced their stakes in the stock. High Point Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter worth $27,000. MidFirst Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $31,000. Curio Wealth LLC bought a new stake in Canadian National Railway during the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its holdings in Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after buying an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $37,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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.