Raymond James Has Negative Outlook for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Raymond James cut their FY2024 EPS estimates for Canadian National Railway in a research report issued on Wednesday, October 23rd. Raymond James analyst S. Hansen now anticipates that the transportation company will post earnings of $5.31 per share for the year, down from their prior estimate of $5.44. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.50 EPS and FY2025 earnings at $5.98 EPS.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Susquehanna cut their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research report on Monday, October 7th. Finally, Barclays boosted their price target on shares of 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 equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Stock Performance

CNI opened at $110.97 on Friday. The company has a market capitalization of $70.18 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.50 and a beta of 0.88. The business’s 50-day moving average price is $115.93 and its two-hundred day moving average price is $119.53. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. 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 (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business posted $1.26 earnings per share.

Institutional Investors Weigh In On Canadian National Railway

A number of large investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new position in shares of Canadian National Railway in the second quarter valued at about $134,096,000. Koshinski Asset Management Inc. acquired a new position in Canadian National Railway in the 1st quarter valued at about $627,000. Mediolanum International Funds Ltd bought a new position in Canadian National Railway in the 1st quarter valued at about $4,451,000. Sterling Investment Management LLC lifted its position in Canadian National Railway by 17.2% during the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after acquiring an additional 5,329 shares during the last quarter. Finally, Sumitomo Life Insurance Co. acquired a new stake in Canadian National Railway during the second quarter worth approximately $1,321,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s dividend payout ratio is 39.71%.

Canadian National Railway Company Profile

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.