Canadian National Railway (NYSE:CNI) Short Interest Down 12.0% in November

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

Canadian National Railway Price Performance

Shares of CNI traded up $0.23 during mid-day trading on Tuesday, reaching $103.00. The stock had a trading volume of 1,047,220 shares, compared to its average volume of 1,145,798. The firm has a market cap of $64.80 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.43 and a beta of 0.89. Canadian National Railway has a 12 month low of $102.29 and a 12 month high of $134.02. The business has a fifty day moving average of $110.19 and a 200 day moving average of $114.90. 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 quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS 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 company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

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

Hedge Funds Weigh In On Canadian National Railway

Several large investors have recently modified their holdings of the stock. Grove Bank & Trust increased its stake in Canadian National Railway by 15.3% in the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after buying an additional 97 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after purchasing an additional 102 shares during the period. Blue Trust Inc. boosted its holdings in shares of Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 105 shares during the period. Doheny Asset Management CA grew its stake in Canadian National Railway by 3.8% in the second quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock worth $354,000 after purchasing an additional 110 shares in the last quarter. Finally, White Pine Investment CO increased its holdings in Canadian National Railway by 0.3% during the 2nd quarter. White Pine Investment CO now owns 47,643 shares of the transportation company’s stock worth $5,628,000 after purchasing an additional 120 shares during the period. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CNI shares. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein decreased their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $125.86.

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.