Citigroup Cuts Canadian National Railway (NYSE:CNI) Price Target to $143.00

Key Points

• Citigroup lowered Canadian National Railway’s price target from $151 to $143 while maintaining a “buy” rating, implying approximately 23.26% upside from the stock’s reported $116.02 price.
• Analyst sentiment remains moderately positive, with nine Buy and nine Hold ratings and an average price target of $137.49.
• Canadian National Railway exceeded quarterly earnings and revenue expectations, reporting $1.50 in EPS and $3.35 billion in revenue, though EPS declined from the prior year.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its target price decreased by investment analysts at Citigroup from $151.00 to $143.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the transportation company's stock. Citigroup's price target would suggest a potential upside of 23.26% from the stock's current price.

A number of other research analysts have also recently commented on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the company an "outperformer" rating in a research report on Thursday, June 25th. Stephens raised shares of Canadian National Railway to a "hold" rating in a research note on Wednesday, July 8th. Susquehanna reduced their target price on shares of Canadian National Railway from $142.00 to $130.00 and set a "neutral" rating on the stock in a report on Friday, October 2nd. Wells Fargo & Company lifted their target price on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Finally, Bank of America lowered their price target on shares of Canadian National Railway from $146.00 to $143.00 and set a "buy" rating for the company in a research note on Wednesday, September 23rd. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.49.

Canadian National Railway Price Performance

Canadian National Railway stock traded down $2.40 during mid-day trading on Wednesday, hitting $116.02. 417,584 shares of the company traded hands, compared to its average volume of 1,533,534. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway has a one year low of $90.74 and a one year high of $131.55. The stock has a market cap of $70.08 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The stock has a fifty day moving average price of $123.67 and a 200-day moving average price of $118.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, topping 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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Canadian National Railway will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of Canadian National Railway

A number of institutional investors have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $27,000. MidFirst Bank bought a new position in shares of Canadian National Railway during the fourth quarter valued at $31,000. MBM Wealth Consultants LLC purchased a new stake in shares of Canadian National Railway during the 1st quarter valued at about $37,000. Cassaday & Co Wealth Management LLC bought a new stake in Canadian National Railway in the 1st quarter worth approximately $46,000. Finally, Nalls Sherbakoff Group LLC bought a new position in shares of Canadian National Railway in the 4th quarter worth approximately $54,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

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

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