Wells Fargo & Company Boosts Canadian National Railway (NYSE:CNI) Price Target to $145.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target upped by analysts at Wells Fargo & Company from $135.00 to $145.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.94% from the company’s current price.

A number of other research analysts also recently commented on the stock. Bank of America lifted their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a report on Thursday, June 25th. Sanford C. Bernstein increased their price target on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings downgraded shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.94.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $129.53 on Monday. The firm 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. Canadian National Railway has a 1 year low of $90.74 and a 1 year high of $131.55. The business has a 50-day moving average of $120.15 and a 200-day moving average of $110.72. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

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

Hedge Funds Weigh In On Canadian National Railway

A number of large investors have recently bought and sold shares of CNI. High Point Wealth Management LLC purchased a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $27,000. MidFirst Bank purchased a new position in Canadian National Railway during the fourth quarter valued at $31,000. Curio Wealth LLC purchased a new position in Canadian National Railway during the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd grew its position in shares of Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Canadian National Railway in the 1st quarter worth $37,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.