Canadian National Railway (NYSE:CNI) Sets New 1-Year High - What's Next?

Key Points

• Canadian National Railway hit a new 52-week high, trading as high as $129.54 on Monday and closing near $129.12. The move comes as the stock has been trending above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but generally constructive: multiple firms recently raised price targets, including Citigroup to $141 and Wells Fargo to $135. The stock currently carries a consensus Hold rating with an average price target of $132.12.
• The company reported quarterly earnings of $1.31 per share, matching expectations, while revenue was flat year over year at $3.15 billion. Canadian National also pays a quarterly dividend of $0.915 per share, or $3.66 annually, for a yield of about 2.9%.

Shares of Canadian National Railway Company (NYSE:CNI - Get Free Report) TSE: CNR reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $129.54 and last traded at $129.1150, with a volume of 355 shares changing hands. The stock had previously closed at $129.03.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNI. Susquehanna restated a "neutral" rating and issued a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Citigroup boosted their target price on Canadian National Railway from $124.00 to $141.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Barclays increased their target price on Canadian National Railway from $99.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Weiss Ratings downgraded Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on Canadian National Railway from $110.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $132.12.

Canadian National Railway Stock Down 0.6%

The company has a market cap of $77.70 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The company's 50-day moving average is $118.48 and its two-hundred day moving average is $109.70.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting analysts' consensus estimates of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $1.85 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts predict that Canadian National Railway Company will post 5.66 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Canadian National Railway's dividend payout ratio is presently 48.55%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors have recently modified their holdings of CNI. AQR Capital Management LLC bought a new stake in shares of Canadian National Railway in the first quarter worth approximately $311,000. Focus Partners Wealth boosted its holdings in Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company's stock worth $1,122,000 after purchasing an additional 1,146 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in Canadian National Railway in the second quarter worth approximately $202,000. EverSource Wealth Advisors LLC grew its position in Canadian National Railway by 52.1% in the 2nd 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 period. Finally, Baird Financial Group Inc. grew its position in Canadian National Railway by 2.9% in the 2nd 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 period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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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