Shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) have been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $98.78.
A number of brokerages recently commented on CNI. Stifel Nicolaus lifted their price objective on Canadian National Railway from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Stephens lifted their price objective on Canadian National Railway from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada cut Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 price objective for the company. in a research note on Tuesday, April 30th. BMO Capital Markets raised Canadian National Railway to a “market perform” rating and set a $125.00 price objective for the company in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Finally, ValuEngine cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.
Several institutional investors have recently made changes to their positions in the stock. FIL Ltd grew its stake in Canadian National Railway by 22.7% in the first quarter. FIL Ltd now owns 9,901,396 shares of the transportation company’s stock valued at $886,372,000 after acquiring an additional 1,829,102 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Canadian National Railway in the first quarter valued at about $165,551,000. Thoroughbred Financial Services LLC acquired a new position in Canadian National Railway in the second quarter valued at about $108,547,000. JPMorgan Chase & Co. grew its stake in Canadian National Railway by 37.4% in the second quarter. JPMorgan Chase & Co. now owns 3,683,848 shares of the transportation company’s stock valued at $337,220,000 after acquiring an additional 1,001,851 shares during the period. Finally, Lazard Asset Management LLC grew its stake in Canadian National Railway by 348.2% in the first quarter. Lazard Asset Management LLC now owns 1,262,495 shares of the transportation company’s stock valued at $112,967,000 after acquiring an additional 980,798 shares during the period. 54.52% of the stock is owned by institutional investors and hedge funds.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.47. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.94 billion. Canadian National Railway had a return on equity of 24.15% and a net margin of 29.50%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, analysts anticipate that Canadian National Railway will post 4.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.411 per share. The ex-dividend date of this dividend is Friday, September 6th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.75%. Canadian National Railway’s payout ratio is 38.94%.
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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