Citigroup Lowers Canadian National Railway (NYSE:CNI) to Neutral

Citigroup downgraded shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, The Fly reports. Citigroup currently has $125.00 target price on the transportation company’s stock, down from their previous target price of $139.00.

A number of other brokerages also recently commented on CNI. Wells Fargo & Company raised their price objective on Canadian National Railway from $115.00 to $125.00 in a research report on Tuesday, April 25th. Scotiabank raised their price objective on Canadian National Railway from C$169.00 to C$172.00 in a research report on Thursday, May 4th. StockNews.com assumed coverage on Canadian National Railway in a research report on Thursday, May 18th. They issued a buy rating for the company. Morgan Stanley upgraded Canadian National Railway from an equal weight rating to an overweight rating in a research report on Thursday, May 4th. Finally, National Bank Financial raised their price objective on Canadian National Railway from C$175.00 to C$178.00 in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of Hold and a consensus price target of $143.22.

Canadian National Railway Stock Performance

CNI opened at $113.71 on Monday. The firm has a market capitalization of $75.42 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.91. The stock’s 50 day moving average price is $118.59 and its two-hundred day moving average price is $120.08. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.69. Canadian National Railway has a 12-month low of $103.79 and a 12-month high of $129.89.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a $0.5835 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $2.33 dividend on an annualized basis and a yield of 2.05%. Canadian National Railway’s payout ratio is 37.98%.

Institutional Trading of Canadian National Railway

Institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Canadian National Railway by 6.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 24,368 shares of the transportation company’s stock valued at $2,897,000 after purchasing an additional 1,428 shares in the last quarter. First Trust Advisors LP raised its holdings in Canadian National Railway by 1.8% during the third quarter. First Trust Advisors LP now owns 556,550 shares of the transportation company’s stock worth $60,100,000 after acquiring an additional 10,084 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Canadian National Railway by 1.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 546,144 shares of the transportation company’s stock worth $64,926,000 after acquiring an additional 9,093 shares in the last quarter. IFP Advisors Inc raised its holdings in Canadian National Railway by 3.1% during the third quarter. IFP Advisors Inc now owns 11,770 shares of the transportation company’s stock worth $748,000 after acquiring an additional 350 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Canadian National Railway by 180.5% during the fourth quarter. National Bank of Canada FI now owns 5,977,754 shares of the transportation company’s stock worth $709,550,000 after acquiring an additional 3,846,281 shares in the last quarter. 86.96% of the stock is currently owned by institutional investors.

About Canadian National Railway

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Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.