Canadian National Railway (NYSE:CNI) Sees Significant Growth in Short Interest

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 7,870,000 shares, a growth of 26.3% from the May 15th total of 6,230,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 959,100 shares, the days-to-cover ratio is currently 8.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CNI shares. Susquehanna increased their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. Jefferies Financial Group began coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 price target on the stock. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Stifel Nicolaus increased their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Eighteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $149.32.

View Our Latest Stock Report on Canadian National Railway

Canadian National Railway Price Performance

Canadian National Railway stock traded down $1.10 during trading on Monday, reaching $120.74. The company had a trading volume of 1,968,879 shares, compared to its average volume of 1,003,527. The firm’s 50-day simple moving average is $125.80 and its 200 day simple moving average is $126.28. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The firm has a market capitalization of $76.61 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.16 billion. As a group, equities research analysts anticipate that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.07%. Canadian National Railway’s payout ratio is currently 39.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Canadian National Railway by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after purchasing an additional 387,975 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. FIL Ltd lifted its holdings in Canadian National Railway by 7.2% in the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Canadian National Railway by 5.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Canadian National Railway by 2.8% during the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after acquiring an additional 314,600 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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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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