Brokerages Set Canadian National Railway (NYSE:CNI) PT at $134.33

Canadian National Railway (NYSE:CNI) (TSE:CNR) has received an average recommendation of “Hold” from the twenty analysts that are covering the firm, MarketBeat.com reports. Seventeen investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $134.47.

CNI has been the topic of a number of recent research reports. Stephens reaffirmed an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday, April 24th. Barclays increased their price target on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Citigroup boosted their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Finally, CIBC downgraded Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th.

Canadian National Railway Stock Down 0.9 %

Shares of CNI opened at $124.05 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. The stock has a market capitalization of $79.23 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.19 and a beta of 0.88. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The business’s 50 day simple moving average is $129.37 and its 200-day simple moving average is $122.64.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 40.03%.

Hedge Funds Weigh In On Canadian National Railway

A number of hedge funds and other institutional investors have recently made changes to their positions in CNI. Avantax Advisory Services Inc. increased its position in Canadian National Railway by 33.5% during the 3rd quarter. Avantax Advisory Services Inc. now owns 11,998 shares of the transportation company’s stock valued at $1,300,000 after purchasing an additional 3,011 shares during the period. Spire Wealth Management raised its stake in Canadian National Railway by 5.0% in the third quarter. Spire Wealth Management now owns 4,602 shares of the transportation company’s stock worth $498,000 after buying an additional 219 shares in the last quarter. YCG LLC lifted its holdings in Canadian National Railway by 6.0% during the fourth quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock worth $31,418,000 after buying an additional 14,249 shares during the period. Manning & Napier Group LLC boosted its position in Canadian National Railway by 7.5% during the 4th quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company’s stock valued at $84,171,000 after acquiring an additional 46,517 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Canadian National Railway in the 3rd quarter valued at $1,266,000. Institutional investors own 80.74% of the company’s stock.

About Canadian National Railway

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.