Canadian National Railway (NYSE:CNI) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised Canadian National Railway’s price target from $109 to $130 while maintaining an “equal weight” rating, implying roughly 0.36% upside from the reported share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $134.03; eight analysts rate the stock Buy and eight rate it Hold.
• Canadian National Railway beat quarterly expectations, reporting $1.50 in earnings per share versus $1.39 expected and $3.35 billion in revenue, up 11.3% year over year. Institutional investors own approximately 80.74% of the company.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its price objective upped by equities researchers at Barclays from $109.00 to $130.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the transportation company's stock. Barclays's target price indicates a potential upside of 0.36% from the stock's current price.

Several other analysts also recently issued reports on the stock. Susquehanna reissued a "neutral" rating and set a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Citigroup lifted their price target on Canadian National Railway from $124.00 to $141.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Wells Fargo & Company increased their price target on shares of Canadian National Railway from $110.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 8th. Evercore raised shares of Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price objective on the stock in a research report on Thursday, June 25th. Finally, Bank of America increased their price objective on Canadian National Railway from $132.00 to $134.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.03.

Canadian National Railway Stock Performance

CNI stock opened at $129.53 on Monday. The company has a 50-day simple moving average of $120.15 and a 200 day simple moving average of $110.72. The company has a market capitalization of $78.50 billion, a P/E ratio of 22.97, a PEG ratio of 2.47 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $131.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.33% and a net margin of 26.92%.The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.87 earnings per share. Sell-side analysts predict that Canadian National Railway will post 5.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Scharf Investments LLC bought a new position in shares of Canadian National Railway during the fourth quarter valued at $8,283,000. Fisher Asset Management LLC boosted its position in Canadian National Railway by 10.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company's stock valued at $225,356,000 after buying an additional 216,963 shares in the last quarter. Norges Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $570,161,000. Clean Energy Transition LLP bought a new stake in Canadian National Railway during the fourth quarter worth about $47,268,000. Finally, QV Investors Inc. grew its stake in Canadian National Railway by 7.4% during the fourth quarter. QV Investors Inc. now owns 629,069 shares of the transportation company's stock worth $62,299,000 after buying an additional 43,523 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.