Canadian National Railway (NYSE:CNI) Price Target Lowered to $123.00 at Wells Fargo & Company

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price reduced by Wells Fargo & Company from $125.00 to $123.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on CNI. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Friday. Stifel Nicolaus boosted their target price on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Stephens reiterated an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein reduced their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and an average price target of $125.77.

Canadian National Railway Stock Performance

CNI opened at $100.18 on Monday. The stock has a market capitalization of $63.03 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 2.43 and a beta of 0.91. The company has a fifty day moving average of $106.26 and a 200 day moving average of $112.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a fifty-two week low of $98.96 and a fifty-two week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm posted $1.26 earnings per share. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a $0.6108 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.44%. Canadian National Railway’s dividend payout ratio (DPR) is currently 38.14%.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently bought and sold shares of CNI. Grove Bank & Trust raised its holdings in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 97 shares in the last quarter. Catalytic Wealth RIA LLC increased its position in Canadian National Railway by 2.3% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company’s stock valued at $654,000 after purchasing an additional 123 shares during the period. Harrington Investments INC raised its holdings in shares of Canadian National Railway by 0.6% in the 3rd quarter. Harrington Investments INC now owns 20,346 shares of the transportation company’s stock valued at $2,384,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Canadian National Railway by 15.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock worth $113,000 after purchasing an additional 131 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Canadian National Railway by 3.2% during the third quarter. Koshinski Asset Management Inc. now owns 4,375 shares of the transportation company’s stock valued at $513,000 after purchasing an additional 135 shares in the last quarter. 80.74% of the stock is 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.