Canadian National Railway (TSE:CNR) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Canadian National Railway shares crossed above their 200-day moving average, reaching C$177.50 and last trading at C$175.87, compared with a 200-day average of C$158.12.
• Analyst sentiment is positive: the stock has a consensus rating of “Moderate Buy” and an average price target of C$183.29, with several firms recently raising their targets to between C$185 and C$199.
• In its latest quarter, CN reported C$2.08 in earnings per share and C$4.75 billion in revenue, alongside a 26.92% net margin and 22.19% return on equity.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$158.12 and traded as high as C$177.50. Canadian National Railway shares last traded at C$175.87, with a volume of 1,087,052 shares.

Wall Street Analysts Forecast Growth

CNR has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Canadian National Railway from C$180.00 to C$195.00 in a report on Monday, July 27th. Evercore upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 25th. Desjardins upped their price target on Canadian National Railway from C$185.00 to C$199.00 and gave the stock a "buy" rating in a report on Monday, July 27th. National Bank Financial increased their price objective on Canadian National Railway from C$173.00 to C$192.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. Finally, ATB Cormark Capital Markets raised their price objective on shares of Canadian National Railway from C$166.00 to C$185.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Canadian National Railway presently has an average rating of "Moderate Buy" and a consensus price target of C$183.29.

Canadian National Railway Price Performance

The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 103.26. The stock's 50-day moving average price is C$173.70 and its 200 day moving average price is C$158.12. The firm has a market cap of C$106.38 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 3.38 and a beta of 1.19.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI last released its earnings results on Friday, July 24th. The company reported C$2.08 earnings per share for the quarter. Canadian National Railway had a return on equity of 22.19% and a net margin of 26.92%.The business had revenue of C$4.75 billion for the quarter. Equities research analysts predict that Canadian National Railway will post 8.2610275 earnings per share for the current year.

About Canadian National Railway

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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