Canadian National Railway (TSE:CNR) Stock Price Crosses 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 Wednesday . The stock has a 200-day moving average of C$145.45 and traded as high as C$149.34. Canadian National Railway shares last traded at C$148.70, with a volume of 1,780,664 shares trading hands.

Analysts Set New Price Targets

CNR has been the topic of a number of recent research reports. Scotiabank lowered their price target on shares of 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. CIBC dropped their price target on Canadian National Railway from C$157.00 to C$146.00 in a research note on Friday, May 2nd. Barclays lowered their price target on shares of Canadian National Railway from C$150.00 to C$145.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Susquehanna upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets decreased their target price on shares of Canadian National Railway from C$175.00 to C$168.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$158.79.

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 company has a market cap of C$94.07 billion, a P/E ratio of 16.23, a PEG ratio of 3.38 and a beta of 0.65. The stock has a 50-day moving average of C$139.12 and a 200 day moving average of C$145.32.

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 issued 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 2.36%. Canadian National Railway's payout ratio is 36.54%.

Insider Buying and Selling

In related news, Director Shauneen Elizabeth Bruder purchased 645 shares of the firm's 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 acquired 1,461 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of C$136.62 per share, with a total value of C$199,600.80. 2.64% of the stock is currently 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%).