Canadian National Railway (TSE:CNR) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Canadian National Railway (TSE:CNR) (NYSE:CNI)’s share 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 changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CNR. Raymond James downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$180.00 to C$150.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of 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. Desjardins dropped their target price on shares of Canadian National Railway from C$169.00 to C$160.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Barclays reduced 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 report on Friday, May 2nd. Finally, ATB Capital decreased their price target on Canadian National Railway from C$159.00 to C$156.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$158.79.

Canadian National Railway Stock Up 1.4%

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 firm’s 50-day moving average price is C$138.43 and its 200 day moving average price is C$145.45. The firm has a market cap of C$93.16 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65.

Canadian National Railway Increases Dividend

The firm 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 represents a $3.55 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.85. Canadian National Railway’s payout ratio is 36.54%.

Insider Buying and Selling

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