Canadian National Railway (TSE:CNR) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$144.45 and traded as high as C$144.98. Canadian National Railway shares last traded at C$142.73, with a volume of 1,843,935 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNR shares. Royal Bank of Canada set a C$163.00 price objective on Canadian National Railway and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Raymond James downgraded shares of Canadian National Railway from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from C$180.00 to C$150.00 in a research report on Tuesday, April 22nd. CIBC increased their price objective on shares of Canadian National Railway from C$146.00 to C$155.00 in a research report on Thursday, May 22nd. BMO Capital Markets dropped their target price on shares of Canadian National Railway from C$175.00 to C$168.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, ATB Capital cut their price target on shares of Canadian National Railway from C$159.00 to C$156.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of "Moderate Buy" and a consensus target price of C$159.79.

Canadian National Railway Stock Performance

The stock has a market cap of C$89.74 billion, a P/E ratio of 15.49, a P/E/G ratio of 3.38 and a beta of 0.65. The company has a fifty day moving average price of C$140.77 and a 200 day moving average price of C$144.45. The company has a debt-to-equity ratio of 107.59, a current ratio of 0.64 and a quick ratio of 0.58.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.85. Canadian National Railway's dividend payout ratio (DPR) is 36.54%.

Insider Activity

In other news, Director Shauneen Elizabeth Bruder bought 645 shares of the stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of C$141.56 per share, for a total transaction of C$91,308.14. Also, Director Susan C. Jones purchased 1,461 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of C$136.62 per share, for a total transaction of C$199,600.80. Corporate insiders own 2.64% of the company's stock.

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%).