Canadian National Railway Company $CNI Shares Sold by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers Ltd. has reduced its stake in Canadian National Railway Company by 14.8%, selling 3,962 shares and now holding a total of 22,811 shares valued at approximately $2.37 million.
• In the most recent quarter, Canadian National Railway reported an EPS of $1.35, missing analysts' estimates of $1.37, with revenue of $3.14 billion, also falling short of expectations.
• Canadian National Railway has received a consensus rating of "Moderate Buy" from analysts, with a current average target price of $113.90.

Coronation Fund Managers Ltd. cut its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,811 shares of the transportation company's stock after selling 3,962 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in Canadian National Railway were worth $2,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNI. Dagco Inc. acquired a new position in Canadian National Railway during the first quarter worth $32,000. Brooklyn Investment Group raised its holdings in Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after purchasing an additional 333 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company's stock worth $58,000 after purchasing an additional 167 shares during the last quarter. GAMMA Investing LLC raised its holdings in Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Canadian National Railway in the first quarter worth $74,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $95.35 on Tuesday. The company has a market cap of $59.00 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 52 week low of $91.07 and a 52 week high of $114.90. The business has a fifty day simple moving average of $94.83 and a 200-day simple moving average of $98.84.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the prior year, the firm earned $1.84 EPS. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Royal Bank Of Canada cut their price target on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Citigroup cut their price target on Canadian National Railway from $121.00 to $119.00 and set a "buy" rating for the company in a report on Monday, October 13th. Argus raised Canadian National Railway to a "hold" rating in a report on Friday, June 27th. Finally, Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average target price of $113.90.

Canadian National Railway Company Profile

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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