Canadian National Railway (TSE:CNR) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Canadian National Railway (TSE:CNR) (NYSE:CNI)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$144.45 and traded as high as C$144.98. Canadian National Railway shares last traded at C$142.73, with a volume of 1,843,935 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNR. Raymond James lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$180.00 to C$150.00 in a research report on Tuesday, April 22nd. CIBC raised their target price on shares of Canadian National Railway from C$146.00 to C$155.00 in a research report on Thursday, May 22nd. JPMorgan Chase & Co. cut their target price on shares of Canadian National Railway from C$170.00 to C$162.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Desjardins cut their target price on shares of Canadian National Railway from C$169.00 to C$160.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, ATB Capital cut their target price on shares of Canadian National Railway from C$159.00 to C$156.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of C$159.79.

Canadian National Railway Trading Down 1.3%

The company has a market cap of C$89.42 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. The business’s fifty day moving average price is C$140.77 and its 200 day moving average price is C$144.45. The company has a debt-to-equity ratio of 107.59, a current ratio of 0.64 and a quick ratio of 0.58.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 2.49%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.85. Canadian National Railway’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling

In other news, Director Shauneen Elizabeth Bruder bought 645 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of C$141.56 per share, with a total value of C$91,308.14. Also, Director Susan C. Jones purchased 1,461 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of C$136.62 per share, with a total value of C$199,600.80. 2.64% of the stock is owned by insiders.

Canadian National Railway Company Profile

Canadian National’s railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2019, CN delivered almost 6 million carloads over its 19,600 miles of track. CN generated roughly CAD 14 billion in total revenue by hauling intermodal containers (25% of consolidated revenue), petroleum and chemicals (21%), grain and fertilizers (16%), forest products (12%), metals and mining (11%), automotive shipments (6%), and coal (4%).