Canadian National Railway (TSE:CNR) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Canadian National Railway shares crossed above their 200-day moving average, reaching C$179.19 and last trading at C$179.05, well above the C$155.35 long-term average.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus and an average price target of C$183.29. Several firms raised their targets, although Susquehanna downgraded the shares to “hold.”
• The company reported quarterly EPS of C$2.08 on revenue of C$4.75 billion, alongside a 26.92% net margin and 22.19% return on equity.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$155.35 and traded as high as C$179.19. Canadian National Railway shares last traded at C$179.05, with a volume of 1,993,320 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James Financial increased their price objective on Canadian National Railway from C$198.00 to C$200.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Barclays upped their target price on Canadian National Railway from C$155.00 to C$185.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. National Bank Financial increased their price target on Canadian National Railway from C$173.00 to C$192.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. Desjardins increased their price target on Canadian National Railway from C$185.00 to C$199.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, Susquehanna downgraded Canadian National Railway from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$183.29.

Canadian National Railway Price Performance

The stock's 50 day simple moving average is C$171.64 and its 200-day simple moving average is C$155.35. The firm has a market cap of C$108.61 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 3.38 and a beta of 1.18. The company has a debt-to-equity ratio of 103.26, a quick ratio of 0.57 and a current ratio of 0.87.

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

Insider Buying and Selling

In other news, Director Justin M. Howell purchased 350 shares of the stock in a transaction on Friday, May 15th. The stock was bought at an average price of C$152.74 per share, with a total value of C$53,459.00. Following the transaction, the director owned 350 shares in the company, valued at C$53,459. The trade was a ∞ increase in their position. Corporate insiders own 2.64% of the company's stock.

Canadian National Railway Company Profile

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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