Scotiabank Increases Canadian National Railway (NYSE:CNI) Price Target to C$160.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective raised by equities researchers at Scotiabank from C$147.00 to C$160.00 in a report issued on Monday, The Fly reports. The firm currently has an “outperform” rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the company. TD Securities upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Monday. Barclays decreased their price objective on Canadian National Railway from $119.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, July 14th. TheStreet upgraded Canadian National Railway from a “c+” rating to a “b” rating in a report on Wednesday, July 21st. BMO Capital Markets downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and raised their price target for the company from $150.00 to $155.00 in a report on Sunday. Finally, Royal Bank of Canada assumed coverage on Canadian National Railway in a report on Friday. They set an “outperform” rating and a $168.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $140.56.

CNI traded down $4.66 during midday trading on Monday, hitting $113.65. The stock had a trading volume of 311,221 shares, compared to its average volume of 1,748,765. The company has a market cap of $80.57 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The business has a fifty day moving average of $110.54 and a 200 day moving average of $110.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.93. Canadian National Railway has a 1 year low of $98.69 and a 1 year high of $128.41.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Monday, July 19th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.63 billion. Canadian National Railway had a return on equity of 20.00% and a net margin of 28.27%. Canadian National Railway’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share. On average, equities research analysts anticipate that Canadian National Railway will post 4.67 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of Canadian National Railway by 22.0% during the second quarter. Bank of Montreal Can now owns 21,059,332 shares of the transportation company’s stock worth $2,241,343,000 after acquiring an additional 3,803,874 shares during the last quarter. Jarislowsky Fraser Ltd lifted its position in Canadian National Railway by 14.0% during the second quarter. Jarislowsky Fraser Ltd now owns 12,161,571 shares of the transportation company’s stock valued at $1,284,510,000 after purchasing an additional 1,494,019 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Canadian National Railway by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 10,673,410 shares of the transportation company’s stock valued at $1,126,260,000 after purchasing an additional 174,248 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Canadian National Railway by 11.2% during the second quarter. The Manufacturers Life Insurance Company now owns 8,833,543 shares of the transportation company’s stock valued at $1,155,339,000 after purchasing an additional 886,859 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Canadian National Railway by 15.8% during the second quarter. CIBC Asset Management Inc now owns 6,875,479 shares of the transportation company’s stock valued at $724,703,000 after purchasing an additional 938,367 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

About Canadian National Railway

Canadian National Railway Co engages in rail and related transportation business. The firm’s services include rail, intermodal, trucking, supply chain services, business development and maps and network. It offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.

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