Analysts Set Expectations for Canadian National Railway’s Q3 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Raymond James lowered their Q3 2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued on Monday, April 22nd. Raymond James analyst S. Hansen now anticipates that the transportation company will post earnings of $1.52 per share for the quarter, down from their previous forecast of $1.54. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.64 EPS, FY2024 earnings at $5.87 EPS and FY2025 earnings at $6.02 EPS.

A number of other research analysts also recently issued reports on the company. Barclays boosted their price target on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Citigroup upped their target price on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Susquehanna Bancshares upped their target price on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Wells Fargo & Company upped their target price on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday. 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, Canadian National Railway has an average rating of “Hold” and an average target price of $148.60.

Canadian National Railway Trading Up 1.6 %

NYSE CNI opened at $124.78 on Wednesday. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $129.58 and a 200-day moving average of $122.22. The firm has a market cap of $79.70 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.00%. Canadian National Railway’s payout ratio is 40.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. PDS Planning Inc lifted its holdings in shares of Canadian National Railway by 2.0% in the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock valued at $574,000 after acquiring an additional 89 shares during the last quarter. Tacita Capital Inc lifted its stake in Canadian National Railway by 0.4% in the third quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock worth $2,972,000 after purchasing an additional 97 shares during the last quarter. Bfsg LLC lifted its stake in Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after purchasing an additional 105 shares during the last quarter. Signaturefd LLC lifted its stake in Canadian National Railway by 1.0% in the third quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after purchasing an additional 110 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its position in shares of Canadian National Railway by 1.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock worth $1,137,000 after acquiring an additional 111 shares during the period. Institutional investors own 80.74% of the company’s stock.

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.