Canadian National Railway (NYSE:CNI) Sees Large Decline in Short Interest

Canadian National Railway (NYSE:CNI) (TSE:CNR) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,900,000 shares, a drop of 12.0% from the November 15th total of 2,160,000 shares. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CNI shares. Susquehanna cut their price target on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Barclays increased their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $129.00 to $122.00 in a report on Friday, October 4th. The Goldman Sachs Group reduced their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Finally, Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.86.

Canadian National Railway Price Performance

NYSE CNI traded up $0.23 during trading hours on Tuesday, hitting $103.00. The company had a trading volume of 1,047,220 shares, compared to its average volume of 1,145,798. The firm has a 50 day simple moving average of $110.19 and a 200 day simple moving average of $114.90. Canadian National Railway has a 52 week low of $102.29 and a 52 week high of $134.02. The firm has a market capitalization of $64.80 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.43 and a beta of 0.89. 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 (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. Equities research analysts expect that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 38.30%.

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds and other institutional investors have recently modified their holdings of CNI. Addison Advisors LLC boosted its holdings in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC grew 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 worth $30,000 after buying an additional 229 shares during the last quarter. Coastline Trust Co purchased a new stake in Canadian National Railway in the third quarter worth $34,000. ORG Partners LLC purchased a new position in Canadian National Railway during the 2nd quarter valued at $34,000. Finally, Reston Wealth Management LLC bought a new position in Canadian National Railway in the 3rd quarter worth $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.