CIBC Bancorp USA Inc. Invests $32.17 Million in Canadian National Railway Company $CNI

Key Points

• CIBC Bancorp USA acquired a new stake of 340,874 shares in Canadian National Railway valued at approximately $32.17 million, representing about 0.06% ownership at the end of the quarter.
• Analysts are split on the stock—ten give a Buy and ten a Hold—resulting in an average target price of $118.91, with several recent price-target cuts and downgrades from firms including UBS, Evercore, RBC and Citigroup.
• Canadian National beat EPS expectations (reported $1.49 vs. $1.43 est.) but missed revenue estimates, and raised its quarterly dividend to $0.915 (annualized $3.66) for a yield of about 3.7%.

CIBC Bancorp USA Inc. acquired a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 340,874 shares of the transportation company's stock, valued at approximately $32,174,000. CIBC Bancorp USA Inc. owned 0.06% of Canadian National Railway at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Canadian National Railway in the 1st quarter valued at $311,000. Focus Partners Wealth increased its holdings in shares of 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 period. Schnieders Capital Management LLC. purchased a new stake in shares of Canadian National Railway in the second quarter worth $202,000. Foundations Investment Advisors LLC raised its position in shares of Canadian National Railway by 71.7% in the second quarter. Foundations Investment Advisors LLC now owns 6,886 shares of the transportation company's stock worth $716,000 after buying an additional 2,876 shares in the last quarter. Finally, Creative Planning boosted its stake in Canadian National Railway by 28.3% during the second quarter. Creative Planning now owns 80,281 shares of the transportation company's stock valued at $8,352,000 after buying an additional 17,709 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

CNI has been the subject of several recent analyst reports. Zacks Research upgraded Canadian National Railway from a "strong sell" rating to a "hold" rating in a research report on Friday, November 28th. Evercore lowered their price target on Canadian National Railway from $105.00 to $103.00 and set an "in-line" rating on the stock in a report on Monday, February 2nd. UBS Group downgraded Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Royal Bank Of Canada cut their price objective on Canadian National Railway from $153.00 to $151.00 and set an "outperform" rating for the company in a report on Monday, February 2nd. Finally, Citigroup lowered their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and an average target price of $118.91.

Canadian National Railway Stock Down 1.7%

CNI opened at $100.27 on Thursday. The business's fifty day simple moving average is $103.87 and its 200 day simple moving average is $98.67. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The stock has a market cap of $61.29 billion, a PE ratio of 18.47, a P/E/G ratio of 2.12 and a beta of 0.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. As a group, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a $0.915 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway's payout ratio is currently 49.36%.

Canadian National Railway 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.