Canadian National Railway Expected to Earn Q3 2024 Earnings of $1.52 Per Share (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James dropped their Q3 2024 earnings estimates for Canadian National Railway in a 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 estimate of $1.54. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 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.

Other equities analysts have also issued reports about the company. Stifel Nicolaus upped their target price on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Susquehanna dropped their price objective on shares of Canadian National Railway from $143.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, March 28th. Citigroup boosted their target price on shares of Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. TD Securities cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, CIBC lowered Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Eighteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $147.52.

Canadian National Railway Stock Up 0.1 %

Shares of NYSE:CNI opened at $129.39 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The business’s 50 day simple moving average is $129.80 and its two-hundred day simple moving average is $122.20. The firm has a market cap of $82.64 billion, a P/E ratio of 20.41, a PEG ratio of 2.25 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

Several large investors have recently made changes to their positions in the business. CWM LLC increased its holdings in Canadian National Railway by 9.3% during the third quarter. CWM LLC now owns 2,983 shares of the transportation company’s stock worth $323,000 after buying an additional 255 shares during the last quarter. Meridian Wealth Management LLC increased its stake in shares of Canadian National Railway by 69.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 14,660 shares of the transportation company’s stock worth $1,588,000 after purchasing an additional 6,013 shares during the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Canadian National Railway by 22.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 706,327 shares of the transportation company’s stock worth $76,516,000 after purchasing an additional 127,867 shares during the period. Norris Perne & French LLP MI lifted its stake in Canadian National Railway by 51.4% in the third quarter. Norris Perne & French LLP MI now owns 2,726 shares of the transportation company’s stock valued at $295,000 after purchasing an additional 926 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in Canadian National Railway by 19.8% in the third quarter. Ballentine Partners LLC now owns 2,148 shares of the transportation company’s stock valued at $233,000 after purchasing an additional 355 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.