Canadian National Railway (NYSE:CNI) Stock Rating Upgraded by Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a $130.00 price target on the transportation company’s stock, up from their prior price target of $126.00. Citigroup’s price objective suggests a potential upside of 16.67% from the company’s current price.

A number of other brokerages have also weighed in on CNI. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research report on Monday, October 7th. Susquehanna reduced their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Evercore ISI reduced their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. Finally, Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $111.43 on Tuesday. The company has a 50 day moving average price of $114.46 and a 200-day moving average price of $117.93. Canadian National Railway has a 52 week low of $107.54 and a 52 week high of $134.02. The firm has a market capitalization of $70.07 billion, a PE ratio of 17.86, a P/E/G ratio of 2.52 and a beta of 0.89. 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 posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. As a group, equities research analysts expect that Canadian National Railway will post 5.49 earnings per share for the current year.

Institutional Trading of Canadian National Railway

A number of institutional investors have recently modified their holdings of CNI. Canada Pension Plan Investment Board raised its position in shares of Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after purchasing an additional 2,163,820 shares during the last quarter. Capital International Investors grew its stake in Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Canadian National Railway by 4,614.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after purchasing an additional 1,307,689 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Canadian National Railway during the 2nd quarter worth $134,096,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after acquiring an additional 674,536 shares during the period. 80.74% of the stock is currently 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.