Canadian National Railway’s (CNI) Hold Rating Reiterated at Argus

Argus reaffirmed their hold rating on shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in a research note issued to investors on Monday,Benzinga reports.

Other analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Weiss Ratings upgraded Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Wells Fargo & Company raised their target price on Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Royal Bank Of Canada lifted their price target on Canadian National Railway from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Finally, Stephens raised Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway Stock Up 0.9%

CNI stock opened at $121.47 on Monday. The company has a market cap of $73.51 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94. The business has a 50-day simple moving average of $125.62 and a 200 day simple moving average of $116.01. Canadian National Railway has a 52 week low of $90.74 and a 52 week high of $131.55. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted $1.87 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts anticipate that Canadian National Railway will post 5.82 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 annualized dividend and a yield of 3.0%. Canadian National Railway’s dividend payout ratio is presently 47.34%.

Institutional Trading of Canadian National Railway

Hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its position in shares of Canadian National Railway by 10.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock worth $225,356,000 after purchasing an additional 216,963 shares during the period. Norges Bank acquired a new stake in shares of Canadian National Railway during the fourth quarter worth $570,161,000. Clean Energy Transition LLP acquired a new stake in shares of Canadian National Railway during the fourth quarter worth $47,268,000. Act Two Investors LLC raised its stake in Canadian National Railway by 35.9% during the fourth quarter. Act Two Investors LLC now owns 146,385 shares of the transportation company’s stock worth $14,470,000 after buying an additional 38,688 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Canadian National Railway during the second quarter worth $9,308,000. Institutional investors and hedge funds 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.