Canadian National Railway Company (NYSE:CNI – Get Free Report) (TSE:CNR)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $122.60 and last traded at $121.6280, with a volume of 18505 shares trading hands. The stock had previously closed at $121.66.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on CNI. Canadian Imperial Bank of Commerce increased their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a report on Thursday, June 25th. Barclays lifted their price target on Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Citigroup upped their target price on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada lifted their target price on shares of Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.12.
Check Out Our Latest Stock Report on Canadian National Railway
Canadian National Railway Trading Up 0.4%
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business posted $1.85 earnings per share. Equities analysts anticipate that Canadian National Railway Company will post 5.75 earnings per share for the current year.
Canadian National Railway Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s payout ratio is currently 48.55%.
Institutional Trading of Canadian National Railway
Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in Canadian National Railway by 7.3% in the 2nd quarter. Versant Capital Management Inc now owns 3,880 shares of the transportation company’s stock valued at $463,000 after buying an additional 263 shares in the last quarter. Eastern Bank raised its holdings in Canadian National Railway by 5.7% during the 2nd quarter. Eastern Bank now owns 2,937 shares of the transportation company’s stock valued at $350,000 after acquiring an additional 158 shares during the period. Ruggaard & Associates LLC lifted its position in shares of Canadian National Railway by 18.1% during the first quarter. Ruggaard & Associates LLC now owns 3,927 shares of the transportation company’s stock worth $404,000 after acquiring an additional 601 shares in the last quarter. Summitry LLC purchased a new stake in shares of Canadian National Railway during the first quarter worth $22,149,000. Finally, Groupama Asset Managment boosted its holdings in shares of Canadian National Railway by 4.3% in the first quarter. Groupama Asset Managment now owns 21,083 shares of the transportation company’s stock worth $2,167,000 after acquiring an additional 863 shares during the period. Institutional investors own 80.74% of the company’s stock.
Canadian National Railway Company 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.
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