Canadian National Railway (NYSE:CNI) Short Interest Update

by · The Cerbat Gem

Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 2,340,000 shares, a decrease of 9.7% from the September 30th total of 2,590,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is currently 1.9 days. Approximately 0.4% of the company’s shares are short sold.

Canadian National Railway Stock Up 0.3 %

Shares of NYSE CNI traded up $0.29 during midday trading on Friday, reaching $108.21. 769,504 shares of the company’s stock were exchanged, compared to its average volume of 1,107,629. Canadian National Railway has a 52-week low of $107.56 and a 52-week high of $134.02. The business’s fifty day moving average price is $115.59 and its two-hundred day moving average price is $118.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market capitalization of $68.04 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. Analysts forecast that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.26%. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Analyst Ratings Changes

CNI has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Susquehanna reduced 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. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.18.

Read Our Latest Research Report on CNI

Institutional Trading of Canadian National Railway

A number of hedge funds have recently made changes to their positions in CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway during the 2nd quarter valued at $26,000. Addison Advisors LLC grew its holdings in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC raised its stake 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 buying an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new position in Canadian National Railway during the third quarter worth about $41,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

About Canadian National Railway

(Get Free Report)

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.

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