Canadian National Railway (TSE:CNR) Stock Breaks Above 200 Day Moving Average – What’s Next?

Canadian National Railway (TSE:CNR) (NYSE:CNI) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$164.81 and traded as high as C$168.77. Canadian National Railway shares last traded at C$164.99, with a volume of 1,317,612 shares traded.

Analysts Set New Price Targets

A number of research firms have issued reports on CNR. Citizens Jmp raised shares of Canadian National Railway to a “hold” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Canadian National Railway from C$175.00 to C$182.00 in a research note on Monday, July 27th. Evercore upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Wells Fargo & Company raised their target price on Canadian National Railway from C$135.00 to C$145.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Scotiabank upped their price objective on shares of Canadian National Railway from C$162.00 to C$194.00 in a report on Thursday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$182.76.

Canadian National Railway Stock Performance

The stock’s 50-day moving average is C$172.17 and its 200-day moving average is C$165.02. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 103.26. The stock has a market cap of C$101.53 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 3.38 and a beta of 1.16.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last posted its quarterly earnings results on Friday, July 24th. The company reported C$2.08 earnings per share (EPS) for the quarter. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.19%. The firm had revenue of C$4.75 billion for the quarter. On average, analysts expect that Canadian National Railway will post 8.2610275 EPS for the current year.

About Canadian National Railway

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.