Scotia Forecasts Strong Price Appreciation for Canadian National Railway (TSE:CNR) Stock

Key Points

• Scotia raised its price target on Canadian National Railway to C$162 and kept a sector outperform rating, implying roughly a 6.3% upside from the current price.
• Several other major analysts (RBC, Bernstein, JPMorgan, TD, ATB Cormark) also lifted targets, leaving a MarketBeat consensus of Moderate Buy with an average price target of C$158.94.
• Shares traded at C$152.40 after CN reported quarterly EPS of C$1.80 and revenue of C$4.38B, the company has a C$93.18B market cap, and recent insider purchases suggest management confidence.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its price objective hoisted by analysts at Scotia from C$160.00 to C$162.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotia's price objective indicates a potential upside of 6.30% from the company's current price.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada lifted their price objective on Canadian National Railway from C$151.00 to C$160.00 in a research note on Thursday, March 26th. Sanford C. Bernstein upped their target price on shares of Canadian National Railway from C$156.00 to C$163.00 in a research report on Tuesday, March 31st. JPMorgan Chase & Co. upped their target price on shares of Canadian National Railway from C$147.00 to C$153.00 in a research note on Tuesday, April 7th. TD upped their target price on shares of Canadian National Railway from C$164.00 to C$171.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Finally, ATB Cormark Capital Markets increased their price objective on shares of Canadian National Railway from C$146.00 to C$150.00 and gave the stock a "sector perform" rating in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$158.94.

Canadian National Railway Price Performance

Shares of CNR traded up C$4.49 during trading hours on Thursday, hitting C$152.40. 628,975 shares of the company were exchanged, compared to its average volume of 1,724,869. The company has a market capitalization of C$93.18 billion, a PE ratio of 20.13, a PEG ratio of 3.38 and a beta of 1.08. The firm has a fifty day simple moving average of C$147.50 and a 200-day simple moving average of C$139.79. The company has a debt-to-equity ratio of 101.25, a current ratio of 0.67 and a quick ratio of 0.58. Canadian National Railway has a one year low of C$126.11 and a one year high of C$158.25.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI last issued its earnings results on Wednesday, April 29th. The company reported C$1.80 EPS for the quarter. The business had revenue of C$4.38 billion during the quarter. Canadian National Railway had a return on equity of 21.95% and a net margin of 27.28%. As a group, sell-side analysts predict that Canadian National Railway will post 8.2610275 earnings per share for the current year.

Insider Activity at Canadian National Railway

In other news, Director Albert Monaco purchased 7,400 shares of Canadian National Railway stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of C$135.68 per share, for a total transaction of C$1,004,032.00. Following the transaction, the director owned 7,400 shares of the company's stock, valued at approximately C$1,004,032. The trade was a ∞ increase in their position. Also, Director Shauneen Elizabeth Bruder purchased 620 shares of Canadian National Railway stock in a transaction that occurred on Thursday, March 26th. The shares were purchased at an average price of C$141.07 per share, for a total transaction of C$87,463.40. Following the transaction, the director directly owned 19,071 shares in the company, valued at C$2,690,345.97. This represents a 3.36% increase in their position. 2.64% of the stock is currently owned by company insiders.

Canadian National Railway Company Profile

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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