Barclays Lowers Canadian National Railway (NYSE:CNI) Price Target to $104.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective decreased by Barclays from $112.00 to $104.00 in a research note published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

Several other brokerages also recently commented on CNI. Loop Capital downgraded Canadian National Railway from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Susquehanna reduced their target price on Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.36.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $96.61 on Wednesday. Canadian National Railway has a 1 year low of $93.64 and a 1 year high of $132.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The stock has a fifty day moving average price of $100.46 and a two-hundred day moving average price of $105.95. The firm has a market cap of $60.71 billion, a P/E ratio of 18.87, a PEG ratio of 1.95 and a beta of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Research analysts forecast that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $0.6159 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date was Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.55%. Canadian National Railway’s payout ratio is currently 47.66%.

Institutional Trading of Canadian National Railway

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Canadian National Railway by 2,044.7% during the first quarter. Versant Capital Management Inc now owns 2,016 shares of the transportation company’s stock valued at $196,000 after acquiring an additional 1,922 shares during the period. Legacy Wealth Management LLC MS bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $326,000. Rempart Asset Management Inc. increased its position in shares of Canadian National Railway by 2.2% during the first quarter. Rempart Asset Management Inc. now owns 191,091 shares of the transportation company’s stock valued at $18,604,000 after purchasing an additional 4,185 shares during the period. Mascagni Wealth Management Inc. bought a new position in Canadian National Railway in the fourth quarter worth $197,000. Finally, Chancellor Financial Group WB LP bought a new position in Canadian National Railway in the fourth quarter worth $348,000. Institutional investors own 80.74% of the company’s stock.

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.