Canadian National Railway (NYSE:CNI) Price Target Cut to $119.00 by Analysts at Citigroup

Key Points

• Citigroup has lowered its price target for Canadian National Railway from $121.00 to $119.00, while maintaining a "buy" rating, suggesting a potential upside of 24.20% from the current price.
• Multiple analysts have downgraded their ratings for Canadian National Railway, with Wall Street Zen moving from "hold" to "sell," indicating a shift in sentiment among market experts.
• The company's recent quarterly earnings missed estimates, reporting $1.35 EPS against the consensus of $1.37, alongside revenues of $3.14 billion compared to expectations of $4.34 billion.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its price objective lowered by stock analysts at Citigroup from $121.00 to $119.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. Citigroup's price target would indicate a potential upside of 24.20% from the company's previous close.

A number of other research analysts have also commented on the stock. Wall Street Zen lowered shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Saturday, October 4th. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an "overweight" rating for the company in a research report on Monday, October 6th. Barclays reduced their price target on shares of Canadian National Railway from $99.00 to $97.00 and set an "equal weight" rating for the company in a research report on Thursday, October 2nd. Susquehanna dropped their price objective on shares of Canadian National Railway from $120.00 to $115.00 and set a "positive" rating for the company in a report on Thursday, September 25th. Finally, Royal Bank Of Canada dropped their price objective on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $113.90.

Canadian National Railway Price Performance

Shares of CNI traded up $1.36 during mid-day trading on Monday, reaching $95.81. 280,037 shares of the stock traded hands, compared to its average volume of 1,528,056. The firm has a fifty day moving average price of $94.54 and a 200 day moving average price of $98.94. The company has a market cap of $59.48 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.14 and a beta of 0.96. The company has a current ratio of 0.82, a quick ratio of 0.58 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 $116.79.

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

Institutional Trading of Canadian National Railway

Several hedge funds have recently added to or reduced their stakes in CNI. Norges Bank bought a new stake in Canadian National Railway in the second quarter worth $591,904,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Canadian National Railway in the second quarter valued at about $310,489,000. Fisher Asset Management LLC purchased a new position in shares of Canadian National Railway in the second quarter valued at about $189,748,000. The Manufacturers Life Insurance Company increased its position in shares of Canadian National Railway by 37.3% in the first quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock valued at $518,260,000 after acquiring an additional 1,439,617 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Canadian National Railway by 26.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company's stock valued at $695,048,000 after acquiring an additional 1,408,978 shares during the period. 80.74% of the stock is owned by institutional investors.

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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