Bank of America Upgrades Canadian National Railway (NYSE:CNI) to “Buy”

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Benzinga reports. The firm presently has a $122.00 price objective on the transportation company’s stock, up from their prior price objective of $117.00. Bank of America‘s price objective indicates a potential upside of 13.24% from the stock’s current price.

A number of other research analysts also recently commented on CNI. Evercore decreased their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research report on Monday, February 2nd. Sanford C. Bernstein lifted their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. 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 for the company in a research report on Monday, February 2nd. UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Barclays increased their price target on Canadian National Railway from $97.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.76.

Canadian National Railway Trading Up 1.7%

Shares of Canadian National Railway stock opened at $107.74 on Thursday. The business’s 50 day moving average is $104.90 and its 200-day moving average is $99.47. Canadian National Railway has a 12-month low of $90.74 and a 12-month high of $113.08. The stock has a market cap of $65.85 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.17 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the firm posted $1.82 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. bought a new position in Canadian National Railway during the 4th quarter worth $12,429,000. Nalls Sherbakoff Group LLC bought a new position in Canadian National Railway during the 4th quarter worth $54,000. SHP Wealth Management bought a new position in Canadian National Railway during the 4th quarter worth $237,000. Reflection Asset Management bought a new position in Canadian National Railway during the 4th quarter worth $1,592,000. Finally, Tobam increased its position in Canadian National Railway by 10.4% during the 4th quarter. Tobam now owns 1,662 shares of the transportation company’s stock worth $164,000 after buying an additional 157 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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.