Canadian National Railway (NYSE:CNI) Stock Moved Down to Hold by Raymond James Financial

Key Points

• Raymond James downgraded Canadian National Railway from “moderate buy” to “hold,” bringing the analyst consensus to “hold” with an average price target of $137.49.
• Canadian National Railway shares opened at $120.12, down 1.4%, while the company reported quarterly EPS of $1.50 and revenue of $3.35 billion, both above analyst expectations.
• Institutional investors own 80.74% of the stock, with several major funds increasing their positions during recent quarters.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR was downgraded by analysts at Raymond James Financial from a "moderate buy" rating to a "hold" rating in a report released on Monday, Zacks reports.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada boosted their price target on Canadian National Railway from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Citizens Jmp initiated coverage on Canadian National Railway in a research report on Wednesday, July 15th. They issued a "market perform" rating for the company. Barclays raised their price objective on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Susquehanna reduced their target price on Canadian National Railway from $142.00 to $130.00 and set a "neutral" rating for the company in a research note on Friday, October 2nd. Finally, Argus reiterated a "hold" rating on shares of Canadian National Railway in a research note on Monday, August 31st. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $137.49.

Canadian National Railway Stock Down 1.4%

Canadian National Railway stock opened at $120.12 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The company's 50-day moving average is $122.23 and its 200-day moving average is $119.26. The firm has a market capitalization of $72.38 billion, a PE ratio of 21.63, a P/E/G ratio of 2.18 and a beta of 0.96. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $131.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the prior year, the firm earned $1.87 EPS. Canadian National Railway's quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Canadian National Railway will post 5.80 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its stake in shares of Canadian National Railway by 2.0% in the first quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company's stock valued at $934,488,000 after buying an additional 173,894 shares during the period. TD Waterhouse Canada Inc. grew its position in Canadian National Railway by 5.8% during the third quarter. TD Waterhouse Canada Inc. now owns 4,546,356 shares of the transportation company's stock worth $532,519,000 after buying an additional 248,401 shares in the last quarter. Canoe Financial LP grew its position in Canadian National Railway by 17.2% during the first quarter. Canoe Financial LP now owns 3,426,466 shares of the transportation company's stock worth $352,527,000 after buying an additional 502,424 shares in the last quarter. Swiss National Bank increased its stake in Canadian National Railway by 26.3% during the 1st quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company's stock worth $180,986,000 after acquiring an additional 367,100 shares during the period. Finally, Cardinal Capital Management Inc. increased its stake in Canadian National Railway by 5.8% during the 2nd quarter. Cardinal Capital Management Inc. now owns 1,254,252 shares of the transportation company's stock worth $149,384,000 after acquiring an additional 68,791 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight railway network across Canada and the United States. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

CN transports a broad range of commodities and manufactured goods, including petroleum and chemicals, grain and fertilizers, forest products, metals and minerals, coal, automotive products and consumer goods.

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