Canadian National Railway’s (CNI) Buy Rating Reiterated at Cowen

Cowen reaffirmed their buy rating on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research report report published on Tuesday morning, AnalystRatings.com reports. The firm currently has a $98.00 price objective on the transportation company’s stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Canadian National Railway from a hold rating to a sell rating and set a $99.00 price target for the company. in a report on Thursday, November 7th. BMO Capital Markets upgraded shares of Canadian National Railway from a market perform rating to an outperform rating in a research note on Friday, November 1st. Wells Fargo & Co started coverage on shares of Canadian National Railway in a report on Monday, October 28th. They set a market perform rating and a $88.00 price objective on the stock. Raymond James lowered shares of Canadian National Railway from an outperform rating to a hold rating in a report on Friday, September 13th. Finally, Stephens downgraded shares of Canadian National Railway from an overweight rating to an equal rating and reduced their price objective for the stock from $100.00 to $97.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Canadian National Railway currently has a consensus rating of Hold and an average price target of $102.38.

Shares of Canadian National Railway stock opened at $88.22 on Tuesday. The firm has a market cap of $65.36 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.04 and a beta of 1.01. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.65. Canadian National Railway has a 12 month low of $70.36 and a 12 month high of $96.49. The stock’s fifty day moving average price is $90.90 and its 200-day moving average price is $91.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.39. Canadian National Railway had a net margin of 29.62% and a return on equity of 24.36%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast that Canadian National Railway will post 4.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, December 6th. Canadian National Railway’s payout ratio is currently 39.18%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Man Group plc increased its position in shares of Canadian National Railway by 80.5% during the third quarter. Man Group plc now owns 361,058 shares of the transportation company’s stock worth $32,441,000 after purchasing an additional 160,989 shares in the last quarter. Voloridge Investment Management LLC boosted its position in shares of Canadian National Railway by 11.6% in the 3rd quarter. Voloridge Investment Management LLC now owns 64,067 shares of the transportation company’s stock worth $5,757,000 after purchasing an additional 6,659 shares in the last quarter. National Pension Service boosted its position in shares of Canadian National Railway by 4.9% in the 3rd quarter. National Pension Service now owns 971,842 shares of the transportation company’s stock worth $115,610,000 after purchasing an additional 45,531 shares in the last quarter. Banco de Sabadell S.A purchased a new position in Canadian National Railway during the 3rd quarter worth $1,604,000. Finally, Chilton Investment Co. LLC grew its stake in Canadian National Railway by 11.7% during the 3rd quarter. Chilton Investment Co. LLC now owns 32,214 shares of the transportation company’s stock worth $2,895,000 after buying an additional 3,374 shares during the last quarter. Hedge funds and other institutional investors own 53.11% of the company’s stock.

Canadian National Railway Company Profile

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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