Canadian National Railway (NYSE:CNI) Price Target Cut to $123.00 by Analysts at Citigroup

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its target price lowered by equities researchers at Citigroup from $124.00 to $123.00 in a report released on Wednesday, MarketBeat reports. The firm presently has a "buy" rating on the transportation company's stock. Citigroup's price objective points to a potential upside of 16.05% from the stock's previous close.

Several other research firms have also weighed in on CNI. Bank of America lifted 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. Susquehanna lifted their price target on Canadian National Railway from $120.00 to $122.00 and gave the company a "positive" rating in a research note on Tuesday, June 24th. Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus dropped their price target on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Stephens lifted their price target on Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.86.

Canadian National Railway Trading Up 1.2%

Shares of CNI stock traded up $1.24 during trading hours on Wednesday, reaching $105.99. The company had a trading volume of 1,067,674 shares, compared to its average volume of 1,325,346. The company has a 50 day moving average of $104.09 and a 200 day moving average of $101.62. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43. The firm has a market cap of $66.55 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.10 and a beta of 0.97. Canadian National Railway has a 1-year low of $91.65 and a 1-year high of $123.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. On average, equities research analysts anticipate that Canadian National Railway will post 5.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNI. Norges Bank bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $563,048,000. Royal Bank of Canada boosted its stake in shares of Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after acquiring an additional 1,934,622 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Canadian National Railway by 37.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock worth $518,260,000 after acquiring an additional 1,439,617 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after acquiring an additional 1,380,554 shares during the period. Finally, Capital International Investors boosted its stake in shares of Canadian National Railway by 12.8% during the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after acquiring an additional 1,341,133 shares during the period. 80.74% of the stock is currently owned by institutional investors.

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.