Canadian National Railway (NYSE:CNI) Sees Significant Growth in Short Interest

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 7,870,000 shares, a growth of 26.3% from the May 15th total of 6,230,000 shares. Based on an average daily volume of 959,100 shares, the days-to-cover ratio is currently 8.2 days. Currently, 1.3% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts recently issued reports on CNI shares. Susquehanna increased their price target on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price target for the company. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Wells Fargo & Company started coverage on shares of Canadian National Railway in a research note on Friday, June 7th. They issued an “equal weight” rating and a $130.00 price target for the company. Eighteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $149.32.

Read Our Latest Stock Report on CNI

Hedge Funds Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the business. Bfsg LLC raised its stake in Canadian National Railway by 110.5% during the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC raised its stake in Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after acquiring an additional 207 shares during the period. Keener Financial Planning LLC bought a new stake in Canadian National Railway during the 4th quarter worth approximately $46,000. Rational Advisors LLC bought a new stake in Canadian National Railway during the 1st quarter worth approximately $49,000. Finally, Knuff & Co LLC bought a new stake in Canadian National Railway during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of NYSE CNI traded down $1.10 during trading on Monday, reaching $120.74. 1,968,879 shares of the company traded hands, compared to its average volume of 1,003,527. The firm has a 50 day simple moving average of $125.80 and a 200-day simple moving average of $126.28. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $76.61 billion, a PE ratio of 19.26, a P/E/G ratio of 2.14 and a beta of 0.90. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. Equities research analysts anticipate that Canadian National Railway will post 5.9 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s payout ratio is 39.08%.

Canadian National Railway Company Profile

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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.

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