Canadian National Railway (TSE:CNR) Sets New 52-Week Low - Here's Why

Key Points

• Canadian National Railway's stock hit a new 52-week low at C$127.17, marking a significant drop from its previous close of C$129.39, with a trading volume of 725,095 shares.
• Multiple brokerages have downgraded the stock, with **Desjardins** cutting the price target from C$169.00 to C$160.00, while **Scotiabank** lowered theirs from C$165.00 to C$153.00, reflecting a cautious outlook.
• The company announced a quarterly dividend of **C$0.8875** per share, with a dividend yield of **2.8%**, and insiders have recently purchased shares, indicating confidence in the company's long-term prospects.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI's share price reached a new 52-week low on Thursday . The company traded as low as C$127.17 and last traded at C$127.43, with a volume of 725095 shares. The stock had previously closed at C$129.39.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNR. Royal Bank Of Canada lowered their price target on shares of Canadian National Railway from C$161.00 to C$157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. TD Securities dropped their price target on shares of Canadian National Railway from C$168.00 to C$165.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. UBS Group lifted their price target on shares of Canadian National Railway from C$172.00 to C$174.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Barclays reduced their price objective on shares of Canadian National Railway from C$145.00 to C$135.00 in a research report on Wednesday, July 23rd. Finally, Desjardins reduced their price target on shares of Canadian National Railway from C$169.00 to C$160.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and a consensus price target of C$155.79.

Canadian National Railway Stock Up 0.5%

The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 107.59. The stock has a market capitalization of C$80.21 billion, a P/E ratio of 13.84, a P/E/G ratio of 3.38 and a beta of 0.65. The stock's 50 day simple moving average is C$138.66 and its 200 day simple moving average is C$141.02.

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, September 8th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway's dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Canadian National Railway

In related news, Director Shauneen Elizabeth Bruder purchased 7,600 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was acquired at an average price of C$131.40 per share, with a total value of C$998,624.04. Also, Director Susan C. Jones bought 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 ninety days, insiders bought 9,747 shares of company stock valued at $1,285,138. 2.64% of the stock is currently owned by company 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%).