Promising Canadian Stocks Worth Watching - July 27th

Key Points

• CSX, Ovintiv, and Canadian National Railway are highlighted as the top Canadian stocks to watch, showcasing robust trading volumes on recent activity.
• CSX Corporation reported a stock price increase to $35.76, with significant trading volume of over 31 million shares, indicating strong investor interest.
• Ovintiv Inc. saw its stock rise to $41.40, bolstered by its holdings in key resource areas and a solid market capitalization of $10.76 billion.

CSX, Ovintiv, and Canadian National Railway are the three Canadian stocks to watch today, according to MarketBeat's stock screener tool. Canadian stocks are equity shares representing ownership in companies incorporated or operating primarily in Canada, and they trade on domestic exchanges such as the Toronto Stock Exchange (TSX) and TSX Venture Exchange. By buying these shares, investors gain a proportional claim on a company’s assets, earnings and voting rights at shareholder meetings. Canadian stocks often offer significant exposure to natural-resource and financial sectors and are influenced by commodity prices, interest rates and broader economic conditions in Canada. These companies had the highest dollar trading volume of any Canadian stocks within the last several days.

CSX (CSX)

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

NASDAQ:CSX traded up $0.76 during trading hours on Friday, reaching $35.76. 31,706,226 shares of the stock were exchanged, compared to its average volume of 16,334,290. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a 50 day simple moving average of $32.69 and a 200-day simple moving average of $31.26. CSX has a 52 week low of $26.22 and a 52 week high of $37.10. The stock has a market capitalization of $66.67 billion, a P/E ratio of 22.07, a P/E/G ratio of 3.20 and a beta of 1.23.

Read Our Latest Research Report on CSX

Ovintiv (OVV)

Ovintiv Inc., together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

Shares of Ovintiv stock traded up $1.41 on Friday, reaching $41.40. 5,744,041 shares of the company were exchanged, compared to its average volume of 3,012,459. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.43. The company's 50-day moving average is $39.05 and its two-hundred day moving average is $39.60. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 2.31 and a beta of 1.08. Ovintiv has a 1-year low of $29.80 and a 1-year high of $48.35.

Read Our Latest Research Report on OVV

Canadian National Railway (CNI)

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.

Shares of Canadian National Railway stock traded up $0.45 on Friday, reaching $95.87. 2,287,331 shares of the company were exchanged, compared to its average volume of 1,606,836. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.43 and a current ratio of 0.82. The company's 50-day moving average is $103.72 and its two-hundred day moving average is $101.48. The firm has a market cap of $60.06 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 2.13 and a beta of 0.97. Canadian National Railway has a 1-year low of $91.65 and a 1-year high of $121.12.

Read Our Latest Research Report on CNI

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