A number of other brokerages have also weighed in on CNI. Raymond James Financial, Inc. lowered Canadian National Railway from an outperform rating to a market perform rating in a report on Wednesday, October 25th. Desjardins upgraded Canadian National Railway from a hold rating to a buy rating in a report on Wednesday, October 25th. Royal Bank Of Canada restated an outperform rating on shares of Canadian National Railway in a report on Wednesday, October 25th. Zacks Investment Research lowered Canadian National Railway from a strong-buy rating to a hold rating in a report on Tuesday, September 26th. Finally, Cowen and Company restated a buy rating and issued a $83.00 price objective on shares of Canadian National Railway in a report on Sunday, September 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Canadian National Railway presently has a consensus rating of Hold and an average target price of C$79.00.
Canadian National Railway (CNI) opened at C$81.00 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $60,434.10, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.11. Canadian National Railway has a fifty-two week low of C$62.97 and a fifty-two week high of C$84.48.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.3304 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s payout ratio is 33.85%.
Canadian National Railway announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc. raised its holdings in Canadian National Railway by 4.1% in the 2nd quarter. TD Asset Management Inc. now owns 18,836,822 shares of the company’s stock valued at $1,526,012,000 after buying an additional 740,664 shares during the period. Vanguard Group Inc. raised its holdings in Canadian National Railway by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 16,793,837 shares of the company’s stock valued at $1,361,140,000 after buying an additional 2,251,612 shares during the period. Jarislowsky Fraser Ltd raised its holdings in Canadian National Railway by 0.3% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 10,255,502 shares of the company’s stock valued at $847,732,000 after buying an additional 25,974 shares during the period. Harding Loevner LP raised its holdings in Canadian National Railway by 7.4% in the 2nd quarter. Harding Loevner LP now owns 6,159,203 shares of the company’s stock valued at $499,203,000 after buying an additional 422,533 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Canadian National Railway by 363.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,913,974 shares of the company’s stock valued at $479,249,000 after buying an additional 4,636,737 shares during the period. Hedge funds and other institutional investors own 54.42% of the company’s stock.
Canadian National Railway Company Profile
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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