Canadian National Railway (NYSE:CNI) Sets New 52-Week Low – What’s Next?

Canadian National Railway (NYSE:CNI) (TSE:CNR)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $107.09 and last traded at $107.09, with a volume of 35020 shares changing hands. The stock had previously closed at $108.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNI. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group cut their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Barclays increased their price objective on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Stephens reiterated an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Finally, Evercore ISI reduced their target price on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Trading Up 0.2 %

The firm has a market cap of $67.31 billion, a P/E ratio of 17.13, a PEG ratio of 2.41 and a beta of 0.89. The company has a 50 day moving average of $113.49 and a 200 day moving average of $117.39. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.29%. Canadian National Railway’s payout ratio is 39.26%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway in the 2nd quarter worth approximately $26,000. Addison Advisors LLC lifted its holdings in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC acquired a new stake in Canadian National Railway in the 2nd quarter worth approximately $34,000. Finally, Coastline Trust Co acquired a new stake in Canadian National Railway in the 3rd quarter worth approximately $34,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.