Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price lowered by Deutsche Bank from $74.00 to $69.00 in a research note released on Friday morning. The firm currently has a sell rating on the transportation company’s stock.
A number of other equities research analysts have also recently commented on CNI. Royal Bank of Canada reiterated an outperform rating on shares of Canadian National Railway in a report on Wednesday, October 25th. Desjardins upgraded shares of Canadian National Railway from a hold rating to a buy rating in a report on Wednesday, October 25th. Raymond James Financial cut shares of Canadian National Railway from an outperform rating to a market perform rating in a report on Wednesday, October 25th. Zacks Investment Research cut shares of Canadian National Railway from a hold rating to a sell rating in a report on Friday, October 27th. Finally, CIBC upgraded shares of Canadian National Railway from a neutral rating to a sector outperform rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $80.88.
Shares of Canadian National Railway (CNI) opened at $76.18 on Friday. Canadian National Railway has a fifty-two week low of $69.73 and a fifty-two week high of $85.73. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 0.53. The company has a market cap of $56,720.00, a P/E ratio of 13.16, a PEG ratio of 1.91 and a beta of 1.01.
Canadian National Railway announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 8th will be issued a $0.3665 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.47 annualized dividend and a yield of 1.92%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s dividend payout ratio (DPR) is currently 22.63%.
A number of hedge funds have recently modified their holdings of the stock. We Are One Seven LLC purchased a new stake in Canadian National Railway in the fourth quarter worth approximately $192,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Canadian National Railway by 52.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 42,900 shares of the transportation company’s stock worth $3,549,000 after purchasing an additional 14,800 shares during the last quarter. Brookfield Asset Management Inc. boosted its holdings in Canadian National Railway by 103.8% in the fourth quarter. Brookfield Asset Management Inc. now owns 17,080 shares of the transportation company’s stock worth $1,413,000 after purchasing an additional 8,700 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in Canadian National Railway in the fourth quarter worth approximately $368,000. Finally, Gotham Asset Management LLC boosted its holdings in Canadian National Railway by 40.5% in the fourth quarter. Gotham Asset Management LLC now owns 386,112 shares of the transportation company’s stock worth $31,854,000 after purchasing an additional 111,285 shares during the last quarter. Institutional investors own 54.49% of the company’s stock.
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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.
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