Canadian National Railway (NYSE:CNI) Rating Increased to Outperform at Macquarie

Macquarie upgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a neutral rating to an outperform rating in a research report sent to investors on Thursday, September 20th, Marketbeat reports.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets cut Canadian National Railway from an outperform rating to a market perform rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. Deutsche Bank upgraded Canadian National Railway from a hold rating to a buy rating and increased their target price for the company from $81.00 to $95.00 in a report on Monday, July 9th. Zacks Investment Research upgraded Canadian National Railway from a hold rating to a buy rating and set a $99.00 target price on the stock in a report on Tuesday, August 7th. Stifel Nicolaus set a $83.00 target price on Canadian National Railway and gave the company a hold rating in a report on Tuesday, July 24th. Finally, Citigroup increased their target price on Canadian National Railway from $85.00 to $90.00 and gave the company a neutral rating in a report on Wednesday, July 25th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Canadian National Railway has an average rating of Buy and a consensus price target of $91.98.

NYSE CNI traded up $0.52 on Thursday, hitting $84.81. 1,538,905 shares of the company’s stock were exchanged, compared to its average volume of 1,230,812. The stock has a market capitalization of $65.79 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.26 and a beta of 1.03. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.54. Canadian National Railway has a fifty-two week low of $70.59 and a fifty-two week high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 24th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.46. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Canadian National Railway had a return on equity of 22.90% and a net margin of 42.08%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. Equities analysts forecast that Canadian National Railway will post 4.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 7th were given a $0.3429 dividend. This represents a $1.37 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 35.94%.

Several institutional investors and hedge funds have recently modified their holdings of CNI. Toronto Dominion Bank raised its position in Canadian National Railway by 116.1% in the second quarter. Toronto Dominion Bank now owns 4,630,111 shares of the transportation company’s stock valued at $376,225,000 after purchasing an additional 2,487,700 shares during the period. Fiera Capital Corp raised its position in Canadian National Railway by 43.7% in the second quarter. Fiera Capital Corp now owns 4,480,073 shares of the transportation company’s stock valued at $366,483,000 after purchasing an additional 1,361,814 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Canadian National Railway by 8.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,396,008 shares of the transportation company’s stock valued at $604,578,000 after purchasing an additional 598,397 shares during the period. Addenda Capital Inc. raised its position in Canadian National Railway by 96.8% in the second quarter. Addenda Capital Inc. now owns 1,174,555 shares of the transportation company’s stock valued at $90,817,000 after purchasing an additional 577,847 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Canadian National Railway by 3.2% during the third quarter. Bank of Montreal Can now owns 16,702,416 shares of the transportation company’s stock valued at $1,499,876,000 after acquiring an additional 511,467 shares in the last quarter. 53.99% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Analyst Recommendations for Canadian National Railway (NYSE:CNI)

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