Canadian National Railway (TSE:CNR) Shares Cross Above 200 Day Moving Average – Here’s Why

Canadian National Railway (TSE:CNR) (NYSE:CNI)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$143.33 and traded as high as C$143.34. Canadian National Railway shares last traded at C$141.65, with a volume of 1,410,643 shares trading hands.

Wall Street Analyst Weigh In

CNR has been the subject of several research reports. Scotiabank increased their price objective on Canadian National Railway from C$160.00 to C$165.00 and gave the company an “outperform” rating in a report on Friday, June 6th. CIBC increased their price objective on Canadian National Railway from C$146.00 to C$155.00 in a report on Thursday, May 22nd. Raymond James Financial downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$180.00 to C$150.00 in a research note on Tuesday, April 22nd. BMO Capital Markets cut their price target on Canadian National Railway from C$175.00 to C$168.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada set a C$163.00 price target on Canadian National Railway and gave the stock an “outperform” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of C$159.79.

Canadian National Railway Price Performance

The business’s 50-day moving average price is C$141.81 and its 200 day moving average price is C$143.30. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 107.59. The company has a market capitalization of C$88.75 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 2.51%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.85. Canadian National Railway’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Canadian National Railway

In related news, Director Susan C. Jones bought 1,461 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of C$136.62 per share, for a total transaction of C$199,600.80. Also, Director Shauneen Elizabeth Bruder bought 627 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were bought at an average price of C$139.47 per share, with a total value of C$87,448.44. 2.64% of the stock is owned by corporate insiders.

About Canadian National Railway

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%).