Canadian National Railway (NYSE:CNI) Stock Price Down 4.8%

Shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) traded down 4.8% during mid-day trading on Wednesday . The stock traded as low as $123.01 and last traded at $123.13. 975,850 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 1,000,297 shares. The stock had previously closed at $129.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Securities lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. CIBC lowered shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Susquehanna lifted their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Finally, Stephens reissued an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research report on Wednesday. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $148.60.

Canadian National Railway Stock Up 0.4 %

The firm’s 50-day moving average price is $129.49 and its 200 day moving average price is $122.34. The company has a market capitalization of $80.03 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.14 and a beta of 0.88. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.84.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. On average, sell-side analysts forecast that Canadian National Railway will post 5.93 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s payout ratio is presently 39.71%.

Hedge Funds Weigh In On Canadian National Railway

A number of institutional investors have recently added to or reduced their stakes in CNI. PDS Planning Inc boosted its stake in shares of Canadian National Railway by 2.0% in the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock valued at $574,000 after purchasing an additional 89 shares during the last quarter. Tacita Capital Inc boosted its stake in Canadian National Railway by 0.4% during the third quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock worth $2,972,000 after acquiring an additional 97 shares in the last quarter. Bfsg LLC boosted its stake in Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after acquiring an additional 105 shares in the last quarter. Signaturefd LLC boosted its stake in Canadian National Railway by 1.0% during the third quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after acquiring an additional 110 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in Canadian National Railway by 1.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock worth $1,137,000 after buying an additional 111 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

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.