Canadian National Railway (NYSE:CNI) Sees Significant Growth in Short Interest

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 3,350,000 shares, an increase of 45.0% from the May 15th total of 2,310,000 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 1,420,000 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

CNI has been the topic of several research reports. Jefferies Financial Group lowered their price target on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citigroup lifted their price target on shares of Canadian National Railway from $117.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Raymond James downgraded shares of Canadian National Railway from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Stephens raised their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Bank of America increased their target price on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.36.

Canadian National Railway Trading Up 0.9%

Shares of NYSE CNI traded up $0.97 during mid-day trading on Monday, hitting $104.74. The company's stock had a trading volume of 1,441,139 shares, compared to its average volume of 1,341,036. Canadian National Railway has a one year low of $91.65 and a one year high of $123.96. The company's fifty day simple moving average is $101.93 and its 200-day simple moving average is $101.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The stock has a market cap of $65.76 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. On average, sell-side analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.8875 dividend. This represents a yield of 2.47%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's dividend payout ratio is presently 50.49%.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds have recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Canadian National Railway during the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in Canadian National Railway during the 4th quarter worth approximately $30,000. Addison Advisors LLC lifted its stake in Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock valued at $32,000 after buying an additional 142 shares in the last quarter. Dagco Inc. acquired a new position in shares of Canadian National Railway in the first quarter valued at approximately $32,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of Canadian National Railway by 44.2% during the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after acquiring an additional 106 shares in 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, 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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