Canadian National Railway (CNI) Downgraded by Bank of America to “Underperform”

Bank of America lowered shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday, MarketBeat.com reports.

CNI has been the topic of a number of other research reports. Argus lowered Canadian National Railway from a buy rating to a hold rating in a research report on Friday, February 16th. Credit Suisse Group reduced their price target on Canadian National Railway from $85.00 to $83.00 and set a neutral rating on the stock in a research report on Wednesday, January 24th. Goldman Sachs Group began coverage on Canadian National Railway in a research report on Monday, November 13th. They issued a buy rating and a $85.00 price target on the stock. Macquarie raised Canadian National Railway from a neutral rating to an outperform rating in a research report on Wednesday, January 24th. Finally, Cowen reaffirmed an outperform rating and issued a $86.00 price target (down previously from $90.00) on shares of Canadian National Railway in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $82.57.

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Canadian National Railway (NYSE:CNI) opened at $74.52 on Tuesday. Canadian National Railway has a twelve month low of $71.02 and a twelve month high of $85.73. The company has a market capitalization of $55,360.00, a PE ratio of 13.21, a P/E/G ratio of 1.91 and a beta of 1.00. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 0.53.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). Canadian National Railway had a net margin of 42.25% and a return on equity of 24.62%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.61 billion. equities analysts anticipate that Canadian National Railway will post 4.1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 8th will be given a dividend of $0.3665 per share. This represents a $1.47 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Wednesday, March 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s dividend payout ratio (DPR) is 26.06%.

Several hedge funds and other institutional investors have recently modified their holdings of CNI. Harding Loevner LP raised its position in shares of Canadian National Railway by 2,838.1% during the 3rd quarter. Harding Loevner LP now owns 180,965,047 shares of the transportation company’s stock worth $366,305,000 after acquiring an additional 174,805,844 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Canadian National Railway by 100.7% during the 4th quarter. Mackenzie Financial Corp now owns 6,556,905 shares of the transportation company’s stock worth $540,945,000 after acquiring an additional 3,289,767 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Canadian National Railway during the 4th quarter worth about $141,338,000. The Manufacturers Life Insurance Company raised its position in shares of Canadian National Railway by 29.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,941,493 shares of the transportation company’s stock worth $490,174,000 after acquiring an additional 1,344,029 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Canadian National Railway by 543.8% during the 4th quarter. Schroder Investment Management Group now owns 1,115,635 shares of the transportation company’s stock worth $115,636,000 after acquiring an additional 942,338 shares in the last quarter. 54.51% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Canadian National Railway (NYSE:CNI)

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