Canadian National Railway (TSE:CNR) Downgraded to "Neutral" Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Canadian National Railway (TSE:CNR - Free Report) NYSE: CNI from an outperform rating to a neutral rating in a report issued on Wednesday morning,BayStreet.CA reports. They currently have C$163.00 price objective on the stock, up from their previous price objective of C$154.00.

Several other research analysts have also recently issued reports on the stock. Desjardins cut their price target on shares of Canadian National Railway from C$169.00 to C$160.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays lowered their price target on shares of Canadian National Railway from C$145.00 to C$135.00 in a research report on Wednesday. Raymond James Financial upgraded shares of Canadian National Railway from a "hold" rating to a "moderate buy" rating and increased their price target for the company from C$150.00 to C$162.00 in a research report on Thursday, July 17th. Argus raised shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Finally, Susquehanna raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and an average target price of C$155.79.

Canadian National Railway Stock Up 0.9%

Shares of CNR stock traded up C$1.23 on Wednesday, reaching C$131.40. 1,241,901 shares of the stock were exchanged, compared to its average volume of 1,357,911. Canadian National Railway has a twelve month low of C$129.90 and a twelve month high of C$164.53. The company has a market capitalization of C$82.33 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 3.38 and a beta of 0.65. 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 business's 50 day moving average price is C$142.13 and its 200 day moving average price is C$142.31.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, September 8th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 2.70%. Canadian National Railway's payout ratio is currently 36.54%.

Insider Buying and Selling at Canadian National Railway

In other Canadian National Railway news, Director Susan C. Jones purchased 1,520 shares of the stock in a transaction on Thursday, July 24th. The shares were purchased at an average price of C$130.96 per share, with a total value of C$199,065.28. Also, Director Shauneen Elizabeth Bruder bought 7,600 shares of the stock in a transaction dated Thursday, July 24th. The stock was purchased at an average cost of C$131.40 per share, for a total transaction of C$998,624.04. Over the last quarter, insiders have purchased 11,208 shares of company stock valued at $1,484,739. Corporate insiders own 2.64% of the company's stock.

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%).