Wells Fargo & Company Issues Pessimistic Forecast for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR had its price target lowered by Wells Fargo & Company from $120.00 to $117.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company's stock.

A number of other equities research analysts have also commented on the company. Bank of America raised their price target on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays decreased their price objective on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a report on Wednesday. Jefferies Financial Group decreased their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Trading Up 0.5%

Shares of CNI traded up $0.45 during trading hours on Wednesday, hitting $95.87. 2,287,331 shares of the stock traded hands, compared to its average volume of 1,606,836. The company has a current ratio of 0.82, a quick ratio of 0.43 and a debt-to-equity ratio of 0.90. Canadian National Railway has a 1-year low of $91.65 and a 1-year high of $121.12. The firm has a market capitalization of $60.06 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The business has a fifty day moving average of $103.72 and a 200-day moving average of $101.49.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company posted $1.84 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. Analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date of this dividend is Monday, September 8th. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.71%. Canadian National Railway's payout ratio is currently 50.19%.

Hedge Funds Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its holdings in Canadian National Railway by 54.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,939 shares of the transportation company's stock valued at $722,000 after acquiring an additional 2,448 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Canadian National Railway by 9.2% in the 2nd quarter. Yousif Capital Management LLC now owns 6,226 shares of the transportation company's stock valued at $648,000 after acquiring an additional 525 shares in the last quarter. Montrusco Bolton Investments Inc. raised its holdings in shares of Canadian National Railway by 22.4% during the 2nd quarter. Montrusco Bolton Investments Inc. now owns 265,997 shares of the transportation company's stock worth $27,660,000 after buying an additional 48,646 shares in the last quarter. CWM LLC raised its holdings in shares of Canadian National Railway by 56.5% during the 2nd quarter. CWM LLC now owns 13,353 shares of the transportation company's stock worth $1,389,000 after buying an additional 4,823 shares in the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC raised its holdings in shares of Canadian National Railway by 6.5% during the 2nd quarter. Franklin Parlapiano Turner & Welch LLC now owns 72,784 shares of the transportation company's stock worth $7,572,000 after buying an additional 4,453 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.