Canadian National Railway Company (NYSE:CNI) Short Interest Update

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 4,651,995 shares, an increase of 54.2% from the July 15th total of 3,015,932 shares. Based on an average daily trading volume, of 1,822,588 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNI. Bank of America upped their price objective on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Evercore upgraded Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price on the stock in a research note on Thursday, June 25th. Citigroup boosted their target price on Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Monday, July 27th. Finally, National Bank Financial set a $124.00 price target on Canadian National Railway in a report on Thursday, June 25th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and a consensus price target of $137.40.

Canadian National Railway Stock Up 0.9%

CNI opened at $127.75 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. Canadian National Railway has a 12 month low of $90.74 and a 12 month high of $131.55. The stock has a market capitalization of $77.31 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.36 and a beta of 0.95. The business has a 50 day simple moving average of $123.59 and a 200-day simple moving average of $114.26.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.Canadian National Railway’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 earnings per share. On average, equities analysts anticipate that Canadian National Railway will post 5.81 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.9%. Canadian National Railway’s dividend payout ratio is 47.34%.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Canadian National Railway by 11.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 25,480 shares of the transportation company’s stock worth $3,038,000 after buying an additional 2,698 shares in the last quarter. Capital Advisors Inc. OK purchased a new position in Canadian National Railway in the second quarter valued at about $220,000. Van ECK Associates Corp increased its holdings in Canadian National Railway by 1.8% in the second quarter. Van ECK Associates Corp now owns 273,682 shares of the transportation company’s stock valued at $32,622,000 after buying an additional 4,878 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Canadian National Railway during the 2nd quarter valued at approximately $581,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in shares of Canadian National Railway during the 2nd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.