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

Shares of Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$144.72 and traded as high as C$145.55. Canadian National Railway shares last traded at C$145.38, with a volume of 2,870,116 shares trading hands.

Analyst Ratings Changes

CNR has been the subject of several analyst reports. CIBC boosted their price objective on Canadian National Railway from C$146.00 to C$155.00 in a report on Thursday, May 22nd. Royal Bank of Canada set a C$163.00 price target on Canadian National Railway and gave the stock an "outperform" rating in a report on Thursday. National Bankshares reduced their price target on Canadian National Railway from C$176.00 to C$170.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. reduced their price target on Canadian National Railway from C$170.00 to C$162.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, UBS Group upped their price target on Canadian National Railway from C$172.00 to C$174.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and a consensus target price of C$159.43.

Canadian National Railway Stock Down 0.6%

The company has a debt-to-equity ratio of 107.59, a current ratio of 0.64 and a quick ratio of 0.58. The business has a 50 day simple moving average of C$140.41 and a 200 day simple moving average of C$144.72. The company has a market capitalization of C$90.41 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 3.38 and a beta of 0.65.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 2.46%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.85. Canadian National Railway's dividend payout ratio is 36.54%.

Insider Activity

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