Citigroup Cuts Canadian National Railway (NYSE:CNI) Price Target to $123.00

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its price objective cut by research analysts at Citigroup from $124.00 to $123.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a "buy" rating on the transportation company's stock. Citigroup's target price indicates a potential upside of 17.34% from the company's current price.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus reduced their target price 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. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Jefferies Financial Group dropped their target price on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $163.00 target price on shares of Canadian National Railway in a research note on Thursday, June 5th. Finally, Barclays decreased their price target on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.44.

Canadian National Railway Stock Performance

Shares of CNI traded down $0.13 during mid-day trading on Wednesday, hitting $104.82. The stock had a trading volume of 773,596 shares, compared to its average volume of 1,326,376. Canadian National Railway has a 52 week low of $91.65 and a 52 week high of $123.96. The business has a fifty day moving average price of $104.09 and a 200-day moving average price of $101.62. The firm has a market cap of $65.82 billion, a P/E ratio of 20.43, a PEG ratio of 2.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CNI. 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 valued at $2,817,616,000 after purchasing an additional 1,934,622 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Canadian National Railway by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock worth $2,254,370,000 after buying an additional 179,261 shares during the period. Capital International Investors boosted its position in 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 valued at $1,199,680,000 after acquiring an additional 1,341,133 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Canadian National Railway by 0.3% during the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock worth $1,148,008,000 after acquiring an additional 30,066 shares during the period. Finally, TD Asset Management Inc. grew its holdings in shares of Canadian National Railway by 2.7% during the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock worth $1,194,443,000 after acquiring an additional 309,210 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, 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.