Equities Analysts Set Expectations for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Desjardins decreased their FY2024 earnings per share estimates for Canadian National Railway in a research report issued on Tuesday, October 22nd. Desjardins analyst B. Poirier now anticipates that the transportation company will earn $5.24 per share for the year, down from their prior estimate of $5.42. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. Desjardins also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.44 EPS, FY2025 earnings at $5.90 EPS, FY2026 earnings at $6.52 EPS, FY2027 earnings at $7.11 EPS and FY2028 earnings at $7.82 EPS.

CNI has been the topic of several other research reports. The Goldman Sachs Group lowered their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Citigroup boosted their price objective on shares of Canadian National Railway from $125.00 to $126.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Barclays increased their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.18.

Canadian National Railway Stock Down 1.0 %

Shares of NYSE:CNI opened at $110.83 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The firm has a fifty day moving average price of $116.02 and a 200 day moving average price of $119.72. The stock has a market cap of $69.80 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.50 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the company earned $1.26 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Institutional Investors Weigh In On Canadian National Railway

A number of large investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Canadian National Railway during the second quarter worth approximately $26,000. Addison Advisors LLC grew its holdings in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares in the last quarter. ORG Partners LLC bought a new position in Canadian National Railway in the 2nd quarter valued at $34,000. Finally, Daiwa Securities Group Inc. acquired a new position in Canadian National Railway during the 1st quarter worth about $64,000. 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.