Canadian National Railway (NYSE:CNI) Hits New 52-Week Low – Here’s Why

Canadian National Railway (NYSE:CNI) (TSE:CNR)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $105.26 and last traded at $105.38, with a volume of 672637 shares changing hands. The stock had previously closed at $106.30.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research analyst reports. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Stephens reissued an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Finally, Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $125.86.

Canadian National Railway Stock Performance

The firm has a market capitalization of $66.21 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 2.50 and a beta of 0.89. The stock’s fifty day moving average is $111.21 and its two-hundred day moving average is $115.65. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.32%. Canadian National Railway’s dividend payout ratio is 39.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Addison Advisors LLC lifted its holdings in shares of Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway in the second quarter worth about $34,000. Coastline Trust Co bought a new position in shares of Canadian National Railway in the third quarter worth about $34,000. Finally, Reston Wealth Management LLC bought a new position in shares of Canadian National Railway in the third quarter worth about $41,000. Institutional investors own 80.74% of the company’s stock.

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.