Canadian National Railway (TSX:CNR) is down considerably over the past year. Contrarian investors with a buy-and-hold strategy are wondering if CNR stock is now oversold and good to buy for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio focused on dividend growth and total returns.
Canadian National Railway stock price
CN trades near $130 per share at the time of writing, compared to $180 at the peak last year. The stock is now back to the four-year low it breached during the market rout in April.
CN operates approximately 20,000 route miles of railway tracks connecting ports on the Atlantic and Pacific coasts of Canada to the Gulf Coast in the United States. The network is strategically important for ensuring the smooth operation of the Canadian and U.S. economies. CN moves about 300 million tons of cargo every year. This includes everything from forestry products,…
