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

Key Points

• Canadian National Railway's stock hit a new 52-week low at C$126.11 and last traded at C$128.60 with a volume of 1,615,866 shares.
• Analysts have mixed ratings on the stock, with two Strong Buy, eight Buy, and one Sell, while the average target price is C$155.79.
• The company declared a quarterly dividend of $0.8875 per share, with an annualized yield of 2.7%, and has a payout ratio of 47.79%.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI's stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$126.11 and last traded at C$128.60, with a volume of 1615866 shares trading hands. The stock had previously closed at C$128.15.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. CIBC boosted their price objective on Canadian National Railway from C$146.00 to C$155.00 in a research note on Thursday, May 22nd. National Bankshares lowered Canadian National Railway from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from C$170.00 to C$150.00 in a research note on Wednesday, July 23rd. Raymond James Financial upgraded Canadian National Railway from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from C$150.00 to C$162.00 in a report on Thursday, July 17th. TD Securities reduced their price target on Canadian National Railway from C$168.00 to C$165.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, National Bank Financial lowered Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and an average target price of C$155.79.

Canadian National Railway Stock Up 1.2%

The company has a fifty day simple moving average of C$133.61 and a 200-day simple moving average of C$138.48. 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 firm has a market cap of C$80.95 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 3.38 and a beta of 0.93.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio is currently 47.79%.

Insider Buying and Selling

In other news, Director Shauneen Elizabeth Bruder acquired 7,600 shares of Canadian National Railway stock in a transaction on Thursday, July 24th. The shares were bought at an average cost of C$131.40 per share, for a total transaction of C$998,624.04. Also, Director Susan C. Jones bought 1,520 shares of the company's stock in a transaction on Thursday, July 24th. The shares were bought at an average cost of C$130.96 per share, for a total transaction of C$199,065.28. Over the last 90 days, insiders have acquired 9,747 shares of company stock worth $1,285,138. Company insiders own 2.64% of the company's stock.

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%).

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