Canadian National Railway (NYSE:CNI) Short interest up 10.6% in October | So Good News

Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) saw a significant increase in short interest in the month of October. As of October 15, there was short interest on a total of 7,020,000 shares, an increase of 10.6% from a total of 6,350,000 shares on September 30. Currently, 1.1% of shares in the company are short sold. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is currently 6.1 days.

Canadian National Railway Price Performance

Shares of CNI stock traded up $1.10 on Friday, reaching $119.09. The company’s stock had a trading volume of 1,142,076 shares, compared to its average volume of 1,238,900. The stock’s fifty day simple moving average is $115.68 and its 200 day simple moving average is $116.70. Canadian National Railway has a 1 year low of $103.79 and a 1 year high of $137.19. The company has a market cap of $80.94 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. The company has a debt ratio of 1.01, a quick ratio of 0.55 and a debt ratio of 0.66.

Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last posted its earnings results on Tuesday, October 25th. The transportation company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.12. Canadian National Railway had a net margin of 29.99% and a return on equity of 22.23%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.32 billion. The company’s quarterly revenues increased by 25.7% on an annual basis. During the same period in the previous year, the firm posted $1.21 EPS. analysts predict that Canadian National Railway will post 5.56 earnings per share for the current fiscal year.

Canadian National Railway cuts dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be issued a $0.53 dividend. This represents an annualized dividend of $2.12 and a yield of 1.78%. The ex-dividend date for this dividend is Wednesday, December 7. Canadian National Railway’s dividend payout ratio (DPR) is 40.55%.

Wall Street analysts predict growth

Several research analysts have issued reports on the company. Credit Suisse Group lifted their target price on Canadian National Railway from $124.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday. Susquehanna reduced their target price on shares of Canadian National Railway from $129.00 to $109.00 in a report on Wednesday, September 28th. Stephens boosted their price objective on shares of Canadian National Railway to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. StockNews.com assumed coverage on Canadian National Railway in a research note on Wednesday, October 12th. They issued a “buy” rating on the company. Finally, JPMorgan Chase & Co. reduced raised their price objective on Canadian National Railway from C$162.00 to C$148.00 in a research report on Tuesday, July 12th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $141.55.

Hedge funds weigh in on Canadian National Railway

Several large investors have recently modified their holdings of the stock. Hanson & Doremus Investment Management boosted its position in Canadian National Railway by 294.1% in the 1st quarter. Hanson & Doremus Investment Management now owns 201 shares of the transportation company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Canadian National Railway by 108.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 263 shares of the transportation company’s stock worth $28,000 after buying an additional 137 shares during the period. JJJ Advisors Inc. lifted its stake in Canadian National Railway by 266.7% during the 1st quarter. JJJ Advisors Inc. now owns 275 shares of the transportation company’s stock worth $37,000 after buying an additional 200 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Canadian National Railway by 100.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 280 shares of the transportation company’s stock valued at $38,000 after buying an additional 140 shares during the period. Finally, NuWave Investment Management LLC purchased a new position in Canadian National Railway in the 2nd quarter valued at $32,000. The institutional investor owns 79.45% of the company’s stock.

Canadian National Railway Company Profile

(Get rating)

The Canadian National Railway Company, together with its subsidiaries, engages in railway and related transportation activities. The company’s portfolio of commodities includes petroleum and chemicals, grains and fertilizers, coal, metals and minerals, forest products, intermodal and automotive products serving exporters, importers, retailers, farmers and manufacturers.

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