Raymond James Downgrades Canadian National Railway (TSE:CNR) to Market Perform

Raymond James downgraded shares of Canadian National Railway (TSE:CNR) (NYSE:CNI) from an outperform rating to a market perform rating in a report published on Monday morning, Analyst Ratings Network reports. They currently have C$158.00 price objective on the stock, up from their previous price objective of C$152.00. Raymond James also issued estimates for Canadian National Railway’s Q3 2021 earnings at $1.43 EPS, Q4 2021 earnings at $1.59 EPS, FY2021 earnings at $5.74 EPS and FY2022 earnings at $7.00 EPS.

CNR has been the subject of several other research reports. Loop Capital downgraded shares of Canadian National Railway to a hold rating and set a C$157.00 target price for the company. in a research report on Wednesday, September 1st. TD Securities lowered Canadian National Railway from a buy rating to a hold rating and set a C$165.00 target price for the company. in a research report on Tuesday, September 14th. Sanford C. Bernstein dropped their price target on Canadian National Railway from C$105.00 to C$99.00 in a research report on Friday, September 3rd. Scotiabank raised their price objective on Canadian National Railway from C$147.00 to C$160.00 in a research note on Friday, September 17th. Finally, National Bankshares boosted their target price on shares of Canadian National Railway from C$139.00 to C$144.00 and gave the company a sector perform rating in a research note on Friday, September 17th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of Buy and a consensus price target of C$145.88.

CNR stock opened at C$147.06 on Monday. The stock’s 50 day moving average is C$140.46 and its two-hundred day moving average is C$138.30. Canadian National Railway has a 52-week low of C$125.00 and a 52-week high of C$161.15. The company has a market capitalization of C$104.26 billion and a PE ratio of 26.07. The company has a quick ratio of 0.48, a current ratio of 0.93 and a debt-to-equity ratio of 69.32.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last released its quarterly earnings results on Tuesday, July 20th. The company reported C$1.49 earnings per share for the quarter, hitting analysts’ consensus estimates of C$1.49. The company had revenue of C$3.60 billion for the quarter, compared to analyst estimates of C$3.68 billion. As a group, sell-side analysts anticipate that Canadian National Railway will post 6.2915347 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 8th will be paid a $0.615 dividend. The ex-dividend date of this dividend is Tuesday, September 7th. This represents a $2.46 annualized dividend and a dividend yield of 1.67%. Canadian National Railway’s payout ratio is 42.20%.

In related news, insider Iii Gates William Henry sold 129,365 shares of the business’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of C$154.87, for a total transaction of C$20,034,935.56. Following the sale, the insider now owns 13,777,918 shares of the company’s stock, valued at C$2,133,805,119.08. Also, insider Cascade Investment, L.L.C. sold 2,053,796 shares of Canadian National Railway stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of C$163.62, for a total value of C$336,044,418.20. Following the transaction, the insider now owns 73,846,269 shares in the company, valued at C$12,082,809,832.37. Over the last 90 days, insiders have sold 6,717,851 shares of company stock worth $1,078,640,243.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

Further Reading: Capital gains and your 401(k) or IRA

Analyst Recommendations for Canadian National Railway (TSE:CNR)

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.