Canadian National Railway (NYSE:CNI) Price Target Raised to $123.00 at Citigroup

Key Points

• Citigroup raised its price target on Canadian National Railway from $115 to $123 and maintained a "buy" rating, implying about a 16.22% upside from the prior close.
• Analyst coverage is mixed — ten analysts have Buy ratings and eleven have Hold ratings, leaving the consensus at an average rating of "Hold" with an average price target of $116.36, below Citigroup's new target.
• The most recent quarter showed a small earnings beat (EPS $1.49 vs. $1.43 est.) but a sizeable revenue miss ($3.24B vs. $4.43B est.), with revenue up only 2.4% year-over-year, signaling mixed operational results.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its price objective hoisted by stock analysts at Citigroup from $115.00 to $123.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the transportation company's stock. Citigroup's price target indicates a potential upside of 16.22% from the stock's previous close.

Other analysts also recently issued reports about the company. Stephens lowered their target price on Canadian National Railway from $105.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, February 2nd. UBS Group downgraded Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Sanford C. Bernstein raised their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a research note on Tuesday, March 31st. Royal Bank Of Canada lowered their target price on Canadian National Railway from $153.00 to $151.00 and set an "outperform" rating for the company in a research note on Monday, February 2nd. Finally, Evercore lowered their target price on Canadian National Railway from $105.00 to $103.00 and set an "in-line" rating for the company in a research note on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $116.36.

Canadian National Railway Stock Up 0.7%

NYSE:CNI traded up $0.76 during mid-day trading on Tuesday, hitting $105.84. The company had a trading volume of 902,467 shares, compared to its average volume of 1,708,252. The business has a fifty day simple moving average of $104.61 and a 200-day simple moving average of $99.32. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 1 year low of $90.74 and a 1 year high of $113.08. The firm has a market capitalization of $64.69 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.17 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company posted $1.82 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canadian National Railway

A number of hedge funds have recently bought and sold shares of CNI. High Point Wealth Management LLC acquired a new position in Canadian National Railway in the fourth quarter worth about $27,000. Hollencrest Capital Management bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $28,000. First Horizon Corp bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $30,000. Costello Asset Management INC raised its holdings in shares of Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company's stock valued at $31,000 after buying an additional 150 shares during the last quarter. Finally, Curio Wealth LLC bought a new stake in Canadian National Railway during the fourth quarter worth approximately $31,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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