Wells Fargo & Company Cuts Canadian National Railway (NYSE:CNI) Price Target to $110.00

Key Points

• Wells Fargo & Company has cut the price target for Canadian National Railway (CNI) from $117.00 to $110.00, but maintains an "overweight" rating on the stock.
• The current consensus rating for Canadian National Railway is "Hold," with an average target price of $116.11.
• In recent trading, Canadian National Railway's shares fell $0.57, bringing the stock price down to $95.81.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR had its target price cut by research analysts at Wells Fargo & Company from $117.00 to $110.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 14.81% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Susquehanna reduced their target price on shares of Canadian National Railway from $120.00 to $115.00 and set a "positive" rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Barclays cut their price objective on Canadian National Railway from $99.00 to $97.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Canadian National Railway in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of "Hold" and an average target price of $116.11.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock traded down $0.57 during midday trading on Monday, hitting $95.81. The company had a trading volume of 79,382 shares, compared to its average volume of 1,530,161. The stock has a market cap of $59.48 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.15 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. The company has a fifty day simple moving average of $94.36 and a 200 day simple moving average of $99.03. Canadian National Railway has a 12-month low of $91.07 and a 12-month high of $116.79.

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

Hedge Funds Weigh In On Canadian National Railway

A number of hedge funds have recently modified their holdings of CNI. GAMMA Investing LLC boosted its stake in Canadian National Railway by 12,692.7% during the first quarter. GAMMA Investing LLC now owns 69,976 shares of the transportation company's stock worth $6,820,000 after buying an additional 69,429 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Canadian National Railway by 71.0% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,869 shares of the transportation company's stock worth $475,000 after purchasing an additional 2,022 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Canadian National Railway by 312.8% during the 1st quarter. Farther Finance Advisors LLC now owns 5,441 shares of the transportation company's stock worth $537,000 after purchasing an additional 4,123 shares during the period. Bruce G. Allen Investments LLC lifted its stake in Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after acquiring an additional 106 shares in the last quarter. Finally, Cardinal Capital Management Inc. boosted its stake in shares of Canadian National Railway by 4.6% in the first quarter. Cardinal Capital Management Inc. now owns 709,315 shares of the transportation company's stock valued at $69,056,000 after purchasing an additional 31,104 shares during the period. 80.74% of the stock is currently 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.

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