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

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI's stock price crossed 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 traded.

Wall Street Analyst Weigh In

CNR has been the topic of several recent research reports. National Bankshares dropped their target price on Canadian National Railway from C$176.00 to C$170.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Loop Capital lowered Canadian National Railway from a "hold" rating to a "strong sell" rating in a research note on Monday, February 3rd. Barclays dropped their price objective on Canadian National Railway from C$150.00 to C$145.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. BMO Capital Markets dropped their price objective on 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. Finally, Royal Bank of Canada dropped their price objective on Canadian National Railway from C$165.00 to C$163.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and a consensus price target of C$158.79.

Canadian National Railway Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 107.59. The stock has a market cap of C$94.60 billion, a PE ratio of 16.32, 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$138.88 and a 200 day moving average price of C$145.32.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.8875 dividend. 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 2.35%. Canadian National Railway's dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In other news, Director Shauneen Elizabeth Bruder acquired 645 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were acquired at an average cost of C$141.56 per share, with a total value of C$91,308.14. Also, Director Susan C. Jones acquired 1,461 shares of the business's stock in a transaction 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. 2.64% of the stock is owned by insiders.

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%).