CIBC upgraded shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) from a neutral rating to a sector outperform rating in a report issued on Wednesday, MarketBeat.com reports.
Several other equities analysts have also weighed in on the stock. Desjardins raised shares of Canadian National Railway from a hold rating to a buy rating in a report on Wednesday, October 25th. Zacks Investment Research lowered shares of Canadian National Railway from a hold rating to a sell rating in a report on Friday, October 27th. Cowen and Company reaffirmed a buy rating and set a $83.00 target price on shares of Canadian National Railway in a report on Sunday, September 24th. Raymond James Financial, Inc. lowered shares of Canadian National Railway from an outperform rating to a market perform rating in a report on Wednesday, October 25th. Finally, BidaskClub lowered shares of Canadian National Railway from a hold rating to a sell rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $79.00.
Canadian National Railway (NYSE:CNI) opened at $81.00 on Wednesday. Canadian National Railway has a 1 year low of $62.97 and a 1 year high of $84.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 0.61. The stock has a market cap of $60,172.96, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.3304 dividend. This represents a $1.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s payout ratio is presently 33.85%.
Canadian National Railway announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hall Laurie J Trustee increased its holdings in Canadian National Railway by 4.1% in the 2nd quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after acquiring an additional 50 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Canadian National Railway by 0.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after purchasing an additional 12 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Canadian National Railway during the 1st quarter worth $123,000. Proficio Capital Partners LLC boosted its stake in Canadian National Railway by 0.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after purchasing an additional 15 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new stake in Canadian National Railway during the 2nd quarter worth $146,000. 54.71% of the stock is owned by institutional investors.
About Canadian National Railway
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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