Canadian National Railway (TSE:CNR) Reaches New 52-Week Low After Analyst Downgrade

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI's share price reached a new 52-week low on Wednesday after National Bank Financial downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$129.90 and last traded at C$131.34, with a volume of 627346 shares trading hands. The stock had previously closed at C$136.56.

CNR has been the topic of several other reports. BMO Capital Markets lowered their target price on shares of Canadian National Railway from C$168.00 to C$163.00 and set an "outperform" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Canadian National Railway from an "outperform" rating to a "neutral" rating and raised their price objective for the company from C$154.00 to C$163.00 in a research report on Wednesday. Barclays lowered their price objective on shares of Canadian National Railway from C$145.00 to C$135.00 in a research report on Wednesday. Raymond James Financial upgraded shares of Canadian National Railway from a "hold" rating to a "moderate buy" rating and raised their price objective for the company from C$150.00 to C$162.00 in a research report on Thursday, July 17th. Finally, Susquehanna upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average price target of C$155.79.

Insider Buying and Selling at Canadian National Railway

In other Canadian National Railway news, Director Shauneen Elizabeth Bruder bought 7,600 shares of the stock in a transaction on Thursday, July 24th. The shares were bought at an average price of C$131.40 per share, with a total value of C$998,624.04. Also, Director Susan C. Jones purchased 1,520 shares of the stock in a transaction dated Thursday, July 24th. The shares were purchased at an average cost of C$130.96 per share, for a total transaction of C$199,065.28. Over the last quarter, insiders purchased 11,208 shares of company stock valued at $1,484,739. Company insiders own 2.64% of the company's stock.

Canadian National Railway Price Performance

The company has a debt-to-equity ratio of 107.59, a current ratio of 0.64 and a quick ratio of 0.58. The company has a market capitalization of C$82.33 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. The stock's 50 day simple moving average is C$142.13 and its 200-day simple moving average is C$142.31.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, September 8th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 2.70%. Canadian National Railway's payout ratio is currently 36.54%.

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%).