Canadian National Railway Sees Unusually Large Options Volume (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) was the target of some unusual options trading on Monday. Stock traders purchased 2,987 call options on the company. This is an increase of approximately 690% compared to the average volume of 378 call options.

A number of analysts have commented on CNI shares. Desjardins decreased their target price on Canadian National Railway from $150.00 to $146.00 and set a “hold” rating on the stock in a research report on Thursday, January 28th. Sanford C. Bernstein upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Monday, January 11th. Benchmark assumed coverage on Canadian National Railway in a report on Wednesday, January 27th. They issued a “hold” rating for the company. Credit Suisse Group reduced their target price on Canadian National Railway from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Canadian National Railway from $110.00 to $127.00 in a research report on Monday, January 11th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $128.94.

CNI opened at $109.11 on Tuesday. The stock has a market cap of $77.46 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 3.36 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $114.89 and its two-hundred day moving average price is $110.29. Canadian National Railway has a twelve month low of $77.20 and a twelve month high of $119.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Sunday, April 25th. The transportation company reported $1.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.01). The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.57 billion. Canadian National Railway had a net margin of 24.90% and a return on equity of 19.55%. Canadian National Railway’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 EPS. As a group, sell-side analysts anticipate that Canadian National Railway will post 4.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 9th will be paid a dividend of $0.4964 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.48. This represents a $1.99 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, June 8th. Canadian National Railway’s dividend payout ratio (DPR) is currently 41.00%.

Several hedge funds have recently made changes to their positions in the company. HighPoint Advisor Group LLC lifted its holdings in Canadian National Railway by 2.2% during the first quarter. HighPoint Advisor Group LLC now owns 3,997 shares of the transportation company’s stock valued at $470,000 after purchasing an additional 86 shares in the last quarter. NuWave Investment Management LLC increased its position in Canadian National Railway by 33.8% during the first quarter. NuWave Investment Management LLC now owns 388 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 98 shares during the last quarter. NEXT Financial Group Inc increased its position in Canadian National Railway by 1.9% during the first quarter. NEXT Financial Group Inc now owns 5,592 shares of the transportation company’s stock valued at $649,000 after acquiring an additional 103 shares during the last quarter. AGF Investments LLC lifted its stake in Canadian National Railway by 70.9% in the fourth quarter. AGF Investments LLC now owns 258 shares of the transportation company’s stock worth $28,000 after acquiring an additional 107 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Canadian National Railway by 6.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,891 shares of the transportation company’s stock valued at $208,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 54.23% of the company’s stock.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

Further Reading: Dividend Yield

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