Canadian National Railway (NYSE:CNI) Reaches New 52-Week Low - Here's What Happened

Key Points

• Canadian National Railway's stock hit a new 52-week low, trading as low as $91.64 before closing at $91.46, amidst a trading volume of 738,604 shares.
• Analyst ratings for CNI show a mixed outlook, with two analysts rating it as Strong Buy, while others provide ratings ranging from Sell to Hold, resulting in an average target price of $118.36.
• The company recently declared a quarterly dividend increase to $0.6507 per share, representing a yield of 2.8%, with a payout ratio of 50.19%.

Canadian National Railway Company (NYSE:CNI - Get Free Report) TSE: CNR's share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $91.64 and last traded at $91.46, with a volume of 738604 shares traded. The stock had previously closed at $92.41.

Analyst Ratings Changes

Several brokerages recently issued reports on CNI. Barclays decreased their price target on shares of 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. Wall Street Zen upgraded shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada decreased their price target on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Bank of America increased their price target on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $118.36.

Canadian National Railway Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The company has a market cap of $58.61 billion, a PE ratio of 18.04, a P/E/G ratio of 2.14 and a beta of 0.94. The business's fifty day moving average is $97.19 and its 200-day moving average is $99.62.

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

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's payout ratio is presently 50.19%.

Hedge Funds Weigh In On Canadian National Railway

Several large investors have recently added to or reduced their stakes in the company. Troy Asset Management Ltd lifted its holdings in Canadian National Railway by 0.3% during the second quarter. Troy Asset Management Ltd now owns 1,058,149 shares of the transportation company's stock valued at $110,090,000 after purchasing an additional 3,060 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Canadian National Railway by 5.0% during the second quarter. Osaic Holdings Inc. now owns 31,334 shares of the transportation company's stock valued at $3,256,000 after purchasing an additional 1,482 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in Canadian National Railway by 19.0% during the second quarter. Orion Porfolio Solutions LLC now owns 15,469 shares of the transportation company's stock valued at $1,609,000 after purchasing an additional 2,469 shares in the last quarter. Monarch Capital Management Inc. lifted its holdings in Canadian National Railway by 9.9% during the second quarter. Monarch Capital Management Inc. now owns 3,537 shares of the transportation company's stock valued at $369,000 after purchasing an additional 320 shares in the last quarter. Finally, State of Wyoming raised its position in shares of Canadian National Railway by 61.9% during the second quarter. State of Wyoming now owns 10,956 shares of the transportation company's stock valued at $1,140,000 after buying an additional 4,187 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

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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