Canadian National Railway Company (NYSE:CNI) Short Interest Update

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 2,806,164 shares, a drop of 53.6% from the June 15th total of 6,044,119 shares. Based on an average daily volume of 1,658,988 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.5% of the shares of the company are sold short.

Analysts Set New Price Targets

CNI has been the subject of several analyst reports. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Susquehanna reissued a “neutral” rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of Canadian National Railway from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. National Bank Financial set a $124.00 target price on shares of Canadian National Railway in a research note on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a report on Thursday, June 25th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and a consensus price target of $132.12.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors have recently modified their holdings of CNI. High Point Wealth Management LLC purchased a new position in Canadian National Railway in the 4th quarter valued at approximately $27,000. Curio Wealth LLC purchased a new stake in Canadian National Railway during the fourth quarter worth $31,000. MidFirst Bank acquired a new stake in Canadian National Railway in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd grew its holdings in Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in Canadian National Railway in the first quarter valued at $37,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Canadian National Railway stock traded up $4.15 during midday trading on Thursday, reaching $128.15. The company’s stock had a trading volume of 1,434,975 shares, compared to its average volume of 1,598,843. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $128.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The stock’s 50 day simple moving average is $117.79 and its 200 day simple moving average is $109.28. The firm has a market capitalization of $77.66 billion, a PE ratio of 23.30, a P/E/G ratio of 2.37 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting the consensus estimate of $1.31. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. On average, equities research analysts forecast that Canadian National Railway will post 5.68 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is presently 48.55%.

About Canadian National Railway

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.