Bank of America Cuts Canadian National Railway (NYSE:CNI) Price Target to $112.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective reduced by equities research analysts at Bank of America from $119.00 to $112.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 8.50% from the stock’s current price.

Several other brokerages have also recently commented on CNI. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and an average target price of $124.19.

Canadian National Railway Price Performance

NYSE CNI traded down $1.11 on Wednesday, reaching $103.23. 243,358 shares of the stock traded hands, compared to its average volume of 969,547. Canadian National Railway has a 12 month low of $98.96 and a 12 month high of $134.02. The company has a market cap of $64.95 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 2.43 and a beta of 0.91. The firm’s fifty day simple moving average is $106.84 and its 200 day simple moving average is $112.77. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, research analysts predict that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd boosted its holdings in Canadian National Railway by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock valued at $1,822,000 after purchasing an additional 4,698 shares during the period. Unigestion Holding SA raised its position in shares of Canadian National Railway by 363.6% during the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after buying an additional 120,687 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after buying an additional 21,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after buying an additional 202,303 shares in the last quarter. Finally, Partners Group Holding AG increased its stake in Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after acquiring an additional 56,849 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Company Profile

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.