Canadian National Railway (NYSE:CNI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective upped by equities researchers at Wells Fargo & Company from $110.00 to $135.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.44% from the stock’s previous close.

CNI has been the subject of several other research reports. Weiss Ratings raised shares of Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price for the company in a report on Thursday, June 25th. Bank of America increased their price target on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Citigroup boosted their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein raised their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.40.

Canadian National Railway Trading Down 0.4%

Shares of CNI stock opened at $122.24 on Wednesday. The business has a 50-day moving average of $116.32 and a 200 day moving average of $108.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. Canadian National Railway has a 1-year low of $90.74 and a 1-year high of $123.00. The stock has a market capitalization of $74.16 billion, a PE ratio of 22.31, a P/E/G ratio of 2.29 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting analysts’ consensus estimates of $1.31. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNI. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $1,948,000. Grove Bank & Trust boosted its position in Canadian National Railway by 20.4% during the second quarter. Grove Bank & Trust now owns 673 shares of the transportation company’s stock worth $80,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc grew its holdings in Canadian National Railway by 7.3% in the second quarter. Versant Capital Management Inc now owns 3,880 shares of the transportation company’s stock valued at $463,000 after purchasing an additional 263 shares during the period. Eastern Bank grew its holdings in Canadian National Railway by 5.7% in the second quarter. Eastern Bank now owns 2,937 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 158 shares during the period. Finally, Ruggaard & Associates LLC increased its position in shares of Canadian National Railway by 18.1% in the first quarter. Ruggaard & Associates LLC now owns 3,927 shares of the transportation company’s stock valued at $404,000 after buying an additional 601 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.