Canadian National Railway (NYSE:CNI) Stock Rating Upgraded by Evercore ISI

Canadian National Railway (NYSE:CNI) (TSE:CNR) was upgraded by research analysts at Evercore ISI from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and cut their target price for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Stifel Nicolaus raised their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $101.17 on Thursday. The firm has a market cap of $63.65 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.43 and a beta of 0.89. 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 has a 52 week low of $99.90 and a 52 week high of $134.02. The business’s fifty day simple moving average is $109.36 and its 200-day simple moving average is $114.54.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. Equities analysts forecast that Canadian National Railway will post 5.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CNI. Addison Advisors LLC boosted its stake in Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 148 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the period. Coastline Trust Co purchased a new position in Canadian National Railway during the 3rd quarter worth approximately $34,000. Reston Wealth Management LLC acquired a new position in Canadian National Railway during the third quarter worth approximately $41,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Canadian National Railway in the third quarter valued at approximately $56,000. 80.74% of the stock is 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.