Canadian National Railway (NYSE:CNI) Issues FY 2024 Earnings Guidance

Canadian National Railway (NYSE:CNI) (TSE:CNR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 5.940-5.940 for the period, compared to the consensus estimate of 5.840. The company issued revenue guidance of -. Canadian National Railway also updated its FY24 guidance to approx CC$8.01 EPS.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNI. Citigroup increased their target price on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Susquehanna raised their price target on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a neutral rating in a research note on Wednesday. Stephens reiterated an equal weight rating and set a $140.00 target price on shares of Canadian National Railway in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Canadian National Railway from $110.00 to $125.00 and gave the company an equal weight rating in a report on Wednesday, January 24th. Finally, Susquehanna Bancshares raised their price target on shares of Canadian National Railway from $115.00 to $143.00 and gave the company a neutral rating in a report on Monday, January 8th. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $148.60.

Canadian National Railway Price Performance

CNI traded up $0.41 on Friday, hitting $125.19. 318,960 shares of the company’s stock were exchanged, compared to its average volume of 1,015,453. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $129.58 and a 200-day moving average price of $122.22. The stock has a market cap of $79.96 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.14 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. As a group, equities analysts anticipate that Canadian National Railway will post 5.93 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared 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 is Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. Canadian National Railway’s payout ratio is 39.71%.

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.