Wells Fargo & Company Issues Pessimistic Forecast for Canadian National Railway (NYSE:CNI) Stock Price

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price lowered by equities research analysts at Wells Fargo & Company from $133.00 to $125.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 19.06% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday. The Goldman Sachs Group cut their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Susquehanna dropped their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Barclays upped their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price target for the company from $129.00 to $122.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.86.

Canadian National Railway Stock Up 1.3 %

NYSE:CNI traded up $1.38 during midday trading on Tuesday, reaching $104.99. 270,553 shares of the stock traded hands, compared to its average volume of 877,651. The business has a 50-day moving average of $106.96 and a two-hundred day moving average of $112.86. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The stock has a market capitalization of $66.05 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the firm earned $1.26 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Canadian National Railway will post 5.31 earnings per share for the current fiscal 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 the stock. Fortitude Family Office LLC lifted its stake in 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 buying an additional 229 shares in the last quarter. Coastline Trust Co acquired a new stake in shares of Canadian National Railway in the third quarter worth approximately $34,000. Reston Wealth Management LLC purchased a new stake in shares of Canadian National Railway during the third quarter worth approximately $41,000. Sanctuary Wealth Management L.L.C. purchased a new position in Canadian National Railway in the 3rd quarter valued at $56,000. Finally, Grove Bank & Trust boosted its stake in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway

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.