Sanford C. Bernstein Trims Canadian National Railway (NYSE:CNI) Target Price to $126.29

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price target cut by Sanford C. Bernstein from $130.67 to $126.29 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a market perform rating on the transportation company’s stock.

CNI has been the subject of a number of other reports. Stephens lowered their target price on Canadian National Railway from $127.00 to $122.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Susquehanna dropped their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company raised shares of Canadian National Railway from an equal weight rating to an overweight rating and set a $125.00 price target on the stock in a research note on Monday, October 7th. Evercore ISI dropped their price objective on shares of Canadian National Railway from $128.00 to $119.00 and set an in-line rating for the company in a research report on Wednesday, September 25th. Finally, Bank of America lowered Canadian National Railway from a buy rating to a neutral rating and decreased their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of Hold and an average target price of $126.02.

Canadian National Railway Trading Up 0.6 %

Shares of CNI stock opened at $115.84 on Wednesday. The company has a market capitalization of $72.95 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.55 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $115.54 and a 200 day moving average price of $120.73.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. Research analysts forecast that Canadian National Railway will post 5.54 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.614 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.12%. Canadian National Railway’s dividend payout ratio is 39.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT grew its holdings in shares of Canadian National Railway by 7.1% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 474,586 shares of the transportation company’s stock valued at $59,622,000 after purchasing an additional 31,477 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Canadian National Railway by 500.9% in the 4th quarter. Public Sector Pension Investment Board now owns 493,692 shares of the transportation company’s stock worth $62,357,000 after purchasing an additional 411,531 shares in the last quarter. D L Carlson Investment Group Inc. bought a new position in Canadian National Railway in the fourth quarter valued at about $3,228,000. V Square Quantitative Management LLC acquired a new stake in shares of Canadian National Railway during the fourth quarter valued at about $436,000. Finally, Cardinal Capital Management Inc. increased its stake in shares of Canadian National Railway by 0.3% in the fourth quarter. Cardinal Capital Management Inc. now owns 451,010 shares of the transportation company’s stock valued at $56,869,000 after buying an additional 1,546 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.