Canadian National Railway (NYSE:CNI) Cut to Market Perform at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from an outperform rating to a market perform rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $130.67 price target on the transportation company’s stock, down from their prior price target of $146.25.

A number of other brokerages have also weighed in on CNI. Bank of America upgraded Canadian National Railway from a neutral rating to a buy rating and raised their target price for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Jefferies Financial Group began coverage on Canadian National Railway in a report on Monday, April 8th. They set a hold rating and a $130.00 target price for the company. Susquehanna cut their price target on Canadian National Railway from $142.00 to $135.00 and set a neutral rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company assumed coverage on Canadian National Railway in a report on Friday, June 7th. They set an equal weight rating and a $130.00 price objective for the company. Finally, Benchmark restated a hold rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Nineteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $148.03.

Canadian National Railway Stock Up 0.7 %

Shares of Canadian National Railway stock opened at $119.41 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a 50 day moving average price of $122.70 and a two-hundred day moving average price of $125.92. The stock has a market capitalization of $75.77 billion, a P/E ratio of 19.04, a PEG ratio of 2.05 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.01. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. Equities analysts expect that Canadian National Railway will post 5.89 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s payout ratio is currently 39.08%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Canadian National Railway during the fourth quarter worth approximately $769,556,000. Canoe Financial LP boosted its stake in Canadian National Railway by 8,401.1% in the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after purchasing an additional 3,960,049 shares during the period. Capital International Investors grew its holdings in Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after buying an additional 2,951,506 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after buying an additional 2,163,820 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Canadian National Railway by 9.6% during the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after buying an additional 1,907,938 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.