Canadian National Railway (NYSE:CNI) Upgraded by Wells Fargo & Company to “Overweight”

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat Ratings reports. The firm presently has a $125.00 price objective on the transportation company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.19% from the stock’s previous close.

Several other analysts have also issued reports on CNI. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Evercore ISI decreased their price objective on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a research note on Wednesday, September 25th. Stephens decreased their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Finally, Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Sixteen equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $129.51.

Canadian National Railway Stock Performance

Shares of CNI opened at $113.44 on Monday. The firm has a market cap of $71.44 billion, a PE ratio of 18.00, a PEG ratio of 2.41 and a beta of 0.88. The stock’s fifty day moving average price is $115.50 and its two-hundred day moving average price is $121.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, equities research analysts forecast that Canadian National Railway will post 5.58 EPS for the current year.

Hedge Funds Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNI. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after purchasing an additional 2,163,820 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. Capital International Investors boosted its holdings in shares of Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after purchasing an additional 1,307,689 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway in the 2nd quarter worth about $134,096,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.