Canadian National Railway (NYSE:CNI) Stock Price Expected to Rise, Bank of America Analyst Says

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target hoisted by stock analysts at Bank of America from $132.00 to $134.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target indicates a potential upside of 16.32% from the stock’s previous close.

Several other brokerages have also issued reports on CNI. Barclays lifted their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce upped their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 9th. Royal Bank Of Canada raised their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein boosted their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.24.

Canadian National Railway Stock Up 0.9%

NYSE CNI traded up $1.06 on Tuesday, reaching $115.19. 205,188 shares of the stock traded hands, compared to its average volume of 1,598,132. Canadian National Railway has a 12 month low of $90.74 and a 12 month high of $122.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The company has a fifty day moving average price of $114.38 and a 200-day moving average price of $106.50. The company has a market cap of $69.89 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.17 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting the consensus estimate of $1.31. The firm 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 quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. As a group, research analysts forecast that Canadian National Railway will post 5.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in shares of Canadian National Railway in the first quarter worth about $311,000. Focus Partners Wealth lifted its holdings in Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock valued at $1,122,000 after acquiring an additional 1,146 shares during the period. Schnieders Capital Management LLC. acquired a new position in Canadian National Railway in the second quarter valued at approximately $202,000. EverSource Wealth Advisors LLC boosted its position in Canadian National Railway by 52.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock worth $116,000 after purchasing an additional 383 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Canadian National Railway by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after purchasing an additional 474 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Company Profile

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.