Canadian National Railway Company (NYSE:CNI) Short Interest Update

Key Points

• Canadian National Railway experienced a significant rise in short interest, increasing by 78.5% in August, totaling 9,120,000 shares, which represents approximately 1.5% of its shares short sold.
• The company reported quarterly earnings of $1.35 EPS, missing estimates and showing a 1.3% year-over-year revenue decline, with total revenue of $3.14 billion.
• Canadian National Railway announced an increase in its quarterly dividend to $0.6507 per share, representing a yield of 2.8% and a dividend payout ratio of 50.19%.

Canadian National Railway Company (NYSE:CNI - Get Free Report) TSE: CNR was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 9,120,000 shares, an increase of 78.5% from the August 15th total of 5,110,000 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is currently 5.4 days. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 1.5% of the shares of the stock are short sold.

Canadian National Railway Stock Down 0.5%

Shares of CNI traded down $0.43 during mid-day trading on Friday, reaching $93.50. The company's stock had a trading volume of 1,232,979 shares, compared to its average volume of 1,740,780. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway has a 1 year low of $91.07 and a 1 year high of $121.12. The business has a fifty day moving average of $96.67 and a 200 day moving average of $99.51. The company has a market cap of $58.04 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. Canadian National Railway's revenue was down 1.3% on a year-over-year basis. As a group, analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. Canadian National Railway's dividend payout ratio (DPR) is currently 50.19%.

Hedge Funds Weigh In On Canadian National Railway

Hedge funds have recently bought and sold shares of the business. Addison Advisors LLC increased its position in Canadian National Railway by 124.0% during the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company's stock worth $28,000 after buying an additional 150 shares during the last quarter. Dagco Inc. bought a new position in shares of Canadian National Railway in the first quarter worth about $32,000. Curio Wealth LLC increased its stake in shares of Canadian National Railway by 31,600.0% in the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company's stock worth $33,000 after purchasing an additional 316 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after purchasing an additional 106 shares during the period. Finally, CX Institutional bought a new position in shares of Canadian National Railway in the first quarter worth about $39,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNI. Barclays decreased their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. National Bank Financial lowered Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Susquehanna decreased their price target on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $118.36.

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.

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