Stephens Cuts Canadian National Railway (NYSE:CNI) Price Target to $122.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price decreased by Stephens from $127.00 to $122.00 in a report issued on Wednesday morning, MarketBeat.com reports. Stephens currently has an equal weight rating on the transportation company’s stock.

Several other brokerages have also recently weighed in on CNI. Sanford C. Bernstein cut shares of Canadian National Railway from an outperform rating to a market perform rating and lowered their price objective for the stock from $146.25 to $130.67 in a research note on Monday, July 8th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They set a hold rating and a $130.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Canadian National Railway from $130.00 to $125.00 and set an equal weight rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their target price on shares of Canadian National Railway from $137.00 to $133.00 and set a hold rating on the stock in a research note on Wednesday. Finally, Scotiabank upgraded shares of Canadian National Railway from a hold rating to a strong-buy rating in a research note on Wednesday, July 10th. Eighteen analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $138.35.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $115.45 on Wednesday. The firm’s 50 day moving average price is $121.28 and its 200-day moving average price is $125.49. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $73.01 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $1.31 EPS. Canadian National Railway’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts expect that Canadian National Railway will post 5.69 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bfsg LLC grew its holdings in shares of Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway during the second quarter worth $26,000. GAMMA Investing LLC boosted its stake in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares during the period. ORG Partners LLC purchased a new position in Canadian National Railway during the second quarter worth $34,000. Finally, Keener Financial Planning LLC purchased a new position in Canadian National Railway during the fourth quarter worth $46,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.