Canadian National Railway (NYSE:CNI) Price Target Raised to $205.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Canadian National Railway’s price target from $195 to $205 while maintaining an “outperform” rating, implying 58.17% upside from the prior close.
• CN reported quarterly adjusted earnings of $1.50 per share, beating the $1.39 consensus estimate, while revenue of $3.35 billion exceeded expectations and increased 11.3% year over year.
• The stock rose 0.1% to $129.61, and analysts collectively assign it a “Moderate Buy” rating with a $137.40 consensus target; institutional investors own 80.74% of shares.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its target price lifted by equities research analysts at Royal Bank Of Canada from $195.00 to $205.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the transportation company's stock. Royal Bank Of Canada's price target would indicate a potential upside of 58.17% from the stock's previous close.

Other equities analysts have also issued reports about the company. Weiss Ratings lowered Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 9th. Evercore upgraded Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 target price on the stock in a research note on Thursday, June 25th. National Bank Financial set a $124.00 price target on Canadian National Railway in a research report on Thursday, June 25th. Citigroup upped their price objective on shares of Canadian National Railway from $124.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Finally, Bank of America increased their target price on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.40.

Canadian National Railway Stock Up 0.1%

Shares of Canadian National Railway stock traded up $0.13 on Monday, hitting $129.61. 149,876 shares of the company's stock traded hands, compared to its average volume of 1,597,285. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The stock has a market cap of $78.55 billion, a P/E ratio of 22.98, a PEG ratio of 2.47 and a beta of 0.96. Canadian National Railway has a 52-week low of $90.74 and a 52-week high of $131.55. The firm's 50-day moving average is $120.15 and its 200 day moving average is $110.72.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.33% and a net margin of 26.92%.The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the business earned $1.87 EPS. The business's quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Canadian National Railway will post 5.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNI. AQR Capital Management LLC bought a new stake in Canadian National Railway during the 1st quarter worth $311,000. Focus Partners Wealth boosted its stake in shares of Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company's stock valued at $1,122,000 after purchasing an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Canadian National Railway during the second quarter valued at about $202,000. EverSource Wealth Advisors LLC grew its holdings in shares of Canadian National Railway by 52.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company's stock worth $116,000 after purchasing an additional 383 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Canadian National Railway by 2.9% during the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company's stock worth $1,778,000 after purchasing an additional 474 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

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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