Canadian National Railway (TSE:CNR) Given New C$140.00 Price Target at CIBC

Canadian National Railway (TSE:CNR) (NYSE:CNI) had its price objective cut by CIBC from C$148.00 to C$140.00 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have a neutral rating on the stock.

CNR has been the topic of a number of other research reports. Citigroup dropped their price target on Canadian National Railway from C$123.00 to C$121.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. National Bankshares lowered Canadian National Railway from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$170.00 to C$150.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada dropped their target price on Canadian National Railway from C$161.00 to C$157.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets dropped their target price on Canadian National Railway from C$168.00 to C$163.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Finally, Scotiabank dropped their target price on Canadian National Railway from C$165.00 to C$153.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$154.71.

Canadian National Railway Price Performance

Shares of CNR stock opened at C$127.52 on Tuesday. Canadian National Railway has a fifty-two week low of C$126.11 and a fifty-two week high of C$160.88. The firm has a market capitalization of C$79.60 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 3.38 and a beta of 0.93. The company has a debt-to-equity ratio of 107.59, a quick ratio of 0.58 and a current ratio of 0.64. The stock’s 50-day simple moving average is C$131.12 and its 200-day simple moving average is C$137.52.

Canadian National Railway Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.55 dividend on an annualized basis and a yield of 2.8%. Canadian National Railway’s payout ratio is presently 47.79%.

Insider Buying and Selling

In related news, Director Shauneen Elizabeth Bruder purchased 7,600 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was bought at an average cost of C$131.40 per share, with a total value of C$998,624.04. Also, Director Susan C. Jones bought 1,520 shares of Canadian National Railway stock in a transaction dated Thursday, July 24th. The shares were acquired at an average cost of C$130.96 per share, with a total value of C$199,065.28. Insiders own 2.64% of the company’s stock.

About Canadian National Railway

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%).