Canadian National Railway (NYSE:CNI) Sees Unusually-High Trading Volume – Here’s Why

Canadian National Railway (NYSE:CNI) (TSE:CNR) shares saw an uptick in trading volume on Thursday . 2,295,778 shares traded hands during mid-day trading, an increase of 104% from the previous session’s volume of 1,122,908 shares.The stock last traded at $108.45 and had previously closed at $109.66.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNI. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Evercore ISI reduced their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. Barclays raised their target price 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. Finally, Sanford C. Bernstein reduced their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $125.86.

Canadian National Railway Stock Performance

The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market cap of $69.02 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.55 and a beta of 0.89. The stock has a 50 day moving average price of $111.98 and a two-hundred day moving average price of $116.28.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced 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 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%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. Analysts predict that Canadian National Railway will post 5.33 EPS 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. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Institutional Trading of Canadian National Railway

A number of large investors have recently bought and sold shares of CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Canadian National Railway in the second quarter valued at approximately $26,000. Addison Advisors LLC raised its stake in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. 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 purchasing an additional 229 shares during the period. ORG Partners LLC bought a new stake in shares of Canadian National Railway in the second quarter valued at about $34,000. Finally, Coastline Trust Co acquired a new position in shares of Canadian National Railway during the third quarter worth about $34,000. 80.74% of the stock is owned by 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.