Canadian National Railway (NYSE:CNI) Given New $134.00 Price Target at Stifel Nicolaus

Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) had its target price increased by Stifel Nicolaus from $121.00 to $134.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

CNI has been the subject of several other research reports. Barclays upped 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 research report on Thursday, April 4th. Stephens raised their target price on Canadian National Railway from $122.00 to $135.00 and gave the stock an equal weight rating in a report on Thursday, January 4th. Bank of America upgraded shares of Canadian National Railway from a neutral rating to a buy rating and raised their target price for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Susquehanna dropped their price target on shares of Canadian National Railway from $143.00 to $140.00 and set a neutral rating for the company in a research report on Thursday, March 28th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They set a hold rating and a $130.00 price objective on the stock. Eighteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of Hold and an average price target of $147.52.

Check Out Our Latest Research Report on Canadian National Railway

Canadian National Railway Stock Up 0.3 %

Shares of Canadian National Railway stock opened at $128.79 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a market cap of $82.47 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 2.23 and a beta of 0.88. The company’s 50 day moving average is $129.81 and its 200 day moving average is $121.30.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. Research analysts anticipate that Canadian National Railway will post 5.96 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were issued a dividend of $0.638 per share. This represents a $2.55 annualized dividend and a dividend yield of 1.98%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, March 6th. Canadian National Railway’s dividend payout ratio is 39.59%.

Hedge Funds Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Canadian National Railway in the 4th quarter valued at about $727,713,000. Canoe Financial LP boosted its stake in Canadian National Railway by 8,401.1% during the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after buying an additional 3,960,049 shares during the period. Capital International Investors lifted its holdings in shares of Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after acquiring an additional 2,951,506 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Canadian National Railway during the 3rd quarter valued at about $273,243,000. Finally, Wellington Management Group LLP lifted its stake in Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway

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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.

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