Canadian National Railway (NYSE:CNI) Price Target Raised to $117.36

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective raised by equities research analysts at Sanford C. Bernstein from $113.88 to $117.36 in a report released on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the transportation company’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 16.00% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Evercore cut their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research report on Monday, February 2nd. Barclays increased their target price on Canadian National Railway from $97.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday. BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Royal Bank Of Canada decreased their price objective on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Finally, UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $115.70.

Canadian National Railway Stock Performance

CNI stock traded down $0.16 during midday trading on Tuesday, reaching $101.17. 244,693 shares of the company’s stock traded hands, compared to its average volume of 1,731,265. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The firm has a market capitalization of $61.84 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. Canadian National Railway has a 52 week low of $90.74 and a 52 week high of $113.08. The company has a 50-day moving average price of $104.15 and a two-hundred day moving average price of $98.99.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Canadian National Railway will post 5.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in Canadian National Railway by 639,137.0% during the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after purchasing an additional 8,954,310 shares in the last quarter. Norges Bank acquired a new stake in Canadian National Railway in the 4th quarter worth about $570,161,000. FIL Ltd increased its stake in Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock worth $1,557,309,000 after buying an additional 5,210,403 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Canadian National Railway during the second quarter valued at approximately $189,748,000. Finally, Troy Asset Management Ltd lifted its position in shares of Canadian National Railway by 158.8% in the third quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock valued at $258,220,000 after acquiring an additional 1,680,223 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.