Raymond James Financial, Inc. Downgrades Canadian National Railway Company (CNI) to Market Perform

Canadian National Railway Company (NYSE:CNI) (TSE:CNR) was downgraded by investment analysts at Raymond James Financial, Inc. from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, October 25th, MarketBeat Ratings reports.

A number of other analysts have also issued reports on the company. Desjardins raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Canadian National Railway in a research note on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $89.00 price target on shares of Canadian National Railway in a research note on Friday, October 6th. Zacks Investment Research lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Cowen and Company reissued a “buy” rating and set a $83.00 price objective on shares of Canadian National Railway in a research note on Sunday, September 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $79.00.

Shares of Canadian National Railway (CNI) opened at $81.00 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.49. The stock has a market capitalization of $60,434.10, a P/E ratio of 20.98, a PEG ratio of 2.18 and a beta of 1.11. Canadian National Railway has a 12 month low of $62.97 and a 12 month high of $84.48.

Canadian National Railway announced that its board has initiated a stock buyback plan on Tuesday, October 24th that permits the company to repurchase 31,000,000 outstanding shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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Several hedge funds have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Canadian National Railway by 0.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock valued at $115,000 after buying an additional 12 shares during the period. Proficio Capital Partners LLC increased its holdings in Canadian National Railway by 0.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after purchasing an additional 15 shares during the period. Atria Investments LLC increased its holdings in Canadian National Railway by 0.7% during the 2nd quarter. Atria Investments LLC now owns 6,121 shares of the transportation company’s stock worth $496,000 after purchasing an additional 41 shares during the period. Hall Laurie J Trustee increased its holdings in Canadian National Railway by 4.1% during the 2nd quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after purchasing an additional 50 shares during the period. Finally, Suntrust Banks Inc. increased its holdings in Canadian National Railway by 0.6% during the 2nd quarter. Suntrust Banks Inc. now owns 8,385 shares of the transportation company’s stock worth $679,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 54.71% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.

Analyst Recommendations for Canadian National Railway (NYSE:CNI)

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