TD Securities Upgrades Canadian National Railway (NYSE:CNI) to Strong-Buy

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by investment analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

CNI has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $174.00 target price on shares of Canadian National Railway in a report on Friday, January 10th. Stephens reiterated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, Barclays increased their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and a consensus price target of $125.77.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $100.17 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $106.08 and a 200-day simple moving average of $112.17. The stock has a market cap of $62.99 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.26 EPS. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts expect that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after buying an additional 674,536 shares during the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after purchasing an additional 99,716 shares during the last quarter. National Bank of Canada FI grew its position in shares of Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after buying an additional 2,137,948 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in Canadian National Railway by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock worth $642,828,000 after acquiring an additional 39,063 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Company Profile

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.