Canadian National Railway (NYSE:CNI) Shares Cross Above 200-Day Moving Average – Here’s Why

Canadian National Railway Company (NYSE:CNI) (TSE:CNR)’s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $117.77 and traded as high as $119.04. Canadian National Railway shares last traded at $117.2070, with a volume of 1,269,463 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on CNI shares. Barclays upped their price objective on shares of Canadian National Railway from $109.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wells Fargo & Company boosted their target price on Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Monday, July 27th. Royal Bank Of Canada raised their price target on Canadian National Railway from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Finally, Citigroup boosted their price objective on Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.31.

Canadian National Railway Stock Up 2.2%

The business’s fifty day moving average price is $124.08 and its 200 day moving average price is $117.79. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $72.32 billion, a PE ratio of 21.23, a PEG ratio of 2.09 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.87 earnings per share. On average, equities research analysts forecast that Canadian National Railway Company will post 5.82 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th were issued a C$0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.1%. Canadian National Railway’s payout ratio is presently 45.92%.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds have recently modified their holdings of CNI. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Canadian National Railway in the second quarter valued at about $27,000. MidFirst Bank acquired a new position in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. Curio Wealth LLC acquired a new position in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. MBM Wealth Consultants LLC purchased a new stake in Canadian National Railway in the 1st quarter valued at approximately $37,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Canadian National Railway in the 1st quarter valued at approximately $46,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.