Canadian National Railway (NYSE:CNI) Stock Price Expected to Rise, Barclays Analyst Says

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective upped by equities researchers at Barclays from $109.00 to $130.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price indicates a potential upside of 0.36% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Susquehanna reissued a “neutral” rating and set a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Citigroup lifted their price target on Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Wells Fargo & Company increased their price target on shares of Canadian National Railway from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research report on Thursday, June 25th. Finally, Bank of America increased their price objective on Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.03.

Canadian National Railway Stock Performance

CNI stock opened at $129.53 on Monday. The company has a 50-day simple moving average of $120.15 and a 200 day simple moving average of $110.72. The company has a market capitalization of $78.50 billion, a P/E ratio of 22.97, a PEG ratio of 2.47 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway has a fifty-two week low of $90.74 and a fifty-two week high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.33% and a net margin of 26.92%.The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.87 earnings per share. Sell-side analysts predict that Canadian National Railway will post 5.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Scharf Investments LLC bought a new position in shares of Canadian National Railway during the fourth quarter valued at $8,283,000. Fisher Asset Management LLC boosted its position in Canadian National Railway by 10.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock valued at $225,356,000 after buying an additional 216,963 shares in the last quarter. Norges Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $570,161,000. Clean Energy Transition LLP bought a new stake in Canadian National Railway during the fourth quarter worth about $47,268,000. Finally, QV Investors Inc. grew its stake in Canadian National Railway by 7.4% during the fourth quarter. QV Investors Inc. now owns 629,069 shares of the transportation company’s stock worth $62,299,000 after buying an additional 43,523 shares during the last quarter. Institutional investors and hedge funds 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.