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

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI's stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$145.07 and traded as high as C$146.16. Canadian National Railway shares last traded at C$145.11, with a volume of 203,251 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNR. Barclays dropped their price target on Canadian National Railway from C$150.00 to C$145.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Raymond James cut 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 target on Canadian National Railway from C$146.00 to C$155.00 in a research report on Thursday, May 22nd. Scotiabank dropped their price target on Canadian National Railway from C$166.00 to C$160.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Desjardins dropped their price target on Canadian National Railway from C$169.00 to C$160.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Canadian National Railway presently has an average rating of "Moderate Buy" and an average target price of C$159.43.

Canadian National Railway Trading Down 0.2%

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$90.67 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 3.38 and a beta of 0.65. The firm has a 50-day moving average of C$140.23 and a 200 day moving average of C$144.85.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.8875 per share. This is a boost from Canadian National Railway's previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 2.45%. Canadian National Railway's dividend payout ratio (DPR) is 36.54%.

Insider Activity

In other news, Director Shauneen Elizabeth Bruder purchased 645 shares of the stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost 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 stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of C$136.62 per share, for a total transaction of C$199,600.80. 2.64% of the stock is owned by insiders.

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%).