Canadian National Railway (CNI) Downgraded by Bank of America

Bank of America cut shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat Ratings reports.

A number of other research analysts have also weighed in on the stock. Macquarie raised shares of Canadian National Railway from a neutral rating to an outperform rating in a research note on Thursday, September 20th. BMO Capital Markets lowered shares of 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. Deutsche Bank raised shares of Canadian National Railway from a hold rating to a buy rating and lifted their price target for the company from $81.00 to $95.00 in a research note on Monday, July 9th. Zacks Investment Research raised shares of Canadian National Railway from a hold rating to a buy rating and set a $99.00 price target on the stock in a research note on Tuesday, August 7th. Finally, Citigroup raised shares of Canadian National Railway from a neutral rating to a buy rating and set a $100.00 price target on the stock in a research note on Tuesday, September 25th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $91.98.

CNI traded up $1.66 during midday trading on Thursday, hitting $85.02. The company had a trading volume of 110,100 shares, compared to its average volume of 1,267,517. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $62.20 billion, a PE ratio of 22.08, a PEG ratio of 2.18 and a beta of 1.03. Canadian National Railway has a twelve month low of $70.59 and a twelve month high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 24th. The transportation company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.46. Canadian National Railway had a net margin of 42.08% and a return on equity of 22.90%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm earned $1.34 EPS. Canadian National Railway’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that Canadian National Railway will post 4.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 7th were issued a $0.3429 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.61%. Canadian National Railway’s dividend payout ratio (DPR) is presently 35.94%.

Several hedge funds and other institutional investors have recently bought and sold shares of CNI. Cubist Systematic Strategies LLC acquired a new position in Canadian National Railway during the first quarter worth $117,000. Private Capital Group LLC increased its holdings in Canadian National Railway by 913.9% during the first quarter. Private Capital Group LLC now owns 1,673 shares of the transportation company’s stock worth $122,000 after buying an additional 1,508 shares during the last quarter. Assetmark Inc. increased its holdings in Canadian National Railway by 73.7% during the first quarter. Assetmark Inc. now owns 1,947 shares of the transportation company’s stock worth $142,000 after buying an additional 826 shares during the last quarter. Quad Cities Investment Group LLC acquired a new position in Canadian National Railway during the second quarter worth $165,000. Finally, First Hawaiian Bank acquired a new position in shares of Canadian National Railway in the third quarter valued at $175,000. Institutional investors own 53.98% of the company’s stock.

Canadian National Railway Company Profile

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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