Canadian National Railway (CNI) Stock Rating Upgraded by Citigroup

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, The Fly reports.

A number of other research firms also recently weighed in on CNI. Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Monday, July 30th. ValuEngine raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. Credit Suisse Group upped their price target on Canadian National Railway from $85.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Barclays dropped their price target on Canadian National Railway from $80.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 25th. Finally, BMO Capital Markets downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $89.80.

CNI stock opened at $86.81 on Tuesday. Canadian National Railway has a fifty-two week low of $70.59 and a fifty-two week high of $90.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.64. The company has a market cap of $64.97 billion, a P/E ratio of 22.61, a PEG ratio of 2.28 and a beta of 1.05.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted 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. Canadian National Railway had a return on equity of 22.90% and a net margin of 42.08%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the business earned $1.34 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities research analysts forecast that Canadian National Railway will post 4.16 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Ontario Teachers Pension Plan Board raised its stake in shares of Canadian National Railway by 259.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 238,557 shares of the transportation company’s stock worth $19,513,000 after purchasing an additional 172,221 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Canadian National Railway by 4.5% during the second quarter. Bank of Nova Scotia now owns 2,741,220 shares of the transportation company’s stock valued at $223,356,000 after acquiring an additional 117,340 shares during the last quarter. Guyasuta Investment Advisors Inc. purchased a new stake in shares of Canadian National Railway during the second quarter valued at approximately $213,000. Cumberland Partners Ltd purchased a new stake in shares of Canadian National Railway during the second quarter valued at approximately $1,283,000. Finally, Bridgewater Associates LP increased its position in shares of Canadian National Railway by 271.9% during the second quarter. Bridgewater Associates LP now owns 301,682 shares of the transportation company’s stock valued at $24,661,000 after acquiring an additional 220,570 shares during the last quarter. 53.99% of the stock is owned by hedge funds and other institutional investors.

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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