Desjardins Downgrades Canadian National Railway (CNI) to Hold

Desjardins downgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a buy rating to a hold rating in a research report report published on Friday morning, Benzinga reports. The brokerage currently has $90.32 target price on the transportation company’s stock.

Other analysts have also recently issued reports about the company. National Bank Financial reissued a hold rating on shares of Canadian National Railway in a research report on Thursday, March 28th. Stephens raised Canadian National Railway from an equal weight rating to an overweight rating in a research report on Thursday, January 3rd. Macquarie reaffirmed a hold rating on shares of Canadian National Railway in a research report on Thursday, March 28th. Barclays reaffirmed a hold rating and set a $86.00 price objective on shares of Canadian National Railway in a research report on Thursday, January 17th. Finally, Credit Suisse Group raised Canadian National Railway from a neutral rating to an outperform rating and increased their price objective for the stock from $90.00 to $95.00 in a research report on Tuesday, January 15th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Canadian National Railway has a consensus rating of Hold and an average target price of $93.30.

Shares of NYSE CNI opened at $91.78 on Friday. The stock has a market capitalization of $66.30 billion, a P/E ratio of 22.06, a PEG ratio of 1.80 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 0.78 and a debt-to-equity ratio of 0.65. Canadian National Railway has a 52-week low of $70.36 and a 52-week high of $91.92.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, January 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.38. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Canadian National Railway had a return on equity of 23.28% and a net margin of 30.19%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. As a group, research analysts forecast that Canadian National Railway will post 4.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.4026 per share. This represents a $1.61 dividend on an annualized basis and a yield of 1.75%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 38.46%.

A number of institutional investors have recently bought and sold shares of CNI. Sontag Advisory LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $26,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $30,000. Somerset Trust Co raised its stake in shares of Canadian National Railway by 158.6% during the 1st quarter. Somerset Trust Co now owns 437 shares of the transportation company’s stock worth $39,000 after buying an additional 268 shares in the last quarter. Bremer Trust National Association purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $42,000. Finally, Truehand Inc purchased a new position in shares of Canadian National Railway during the 4th quarter worth approximately $44,000. 55.06% of the stock is owned by institutional investors.

About Canadian National Railway

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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