Canadian National Railway (NYSE:CNI) Updates FY24 Earnings Guidance

Canadian National Railway (NYSE:CNI) (TSE:CNR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of approx CC$8.01 for the period, compared to the consensus earnings per share estimate of $8.05. Canadian National Railway also updated its FY 2024 guidance to 5.940-5.940 EPS.

Canadian National Railway Stock Down 4.4 %

Shares of CNI stock traded down $5.66 during trading on Wednesday, hitting $123.74. 1,459,103 shares of the company were exchanged, compared to its average volume of 1,005,659. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The firm has a market capitalization of $79.03 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 2.25 and a beta of 0.88. The business’s 50-day simple moving average is $129.80 and its 200 day simple moving average is $122.20. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%. As a group, analysts forecast that Canadian National Railway will post 5.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of analyst reports. Stephens reiterated an equal weight rating and issued a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday. TD Securities cut shares of Canadian National Railway from a buy rating to a hold rating in a research note on Monday, January 8th. Benchmark reiterated a hold rating on shares of Canadian National Railway in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of Canadian National Railway from $121.00 to $134.00 and gave the company a hold rating in a research note on Friday, April 12th. Finally, Susquehanna Bancshares boosted their price objective on shares of Canadian National Railway from $115.00 to $143.00 and gave the stock a neutral rating in a research note on Monday, January 8th. Eighteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway has an average rating of Hold and an average target price of $147.86.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.