Canadian National Railway (NYSE:CNI) to Post Q2 2024 Earnings of $1.37 Per Share, National Bank Financial Forecasts

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at National Bank Financial reduced their Q2 2024 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday, April 23rd. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will post earnings of $1.37 per share for the quarter, down from their previous estimate of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2025 earnings at $6.63 EPS.

CNI has been the topic of a number of other reports. Citigroup boosted their price target on shares of Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. TD Securities lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Stephens reiterated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Finally, Barclays boosted their price objective on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Eighteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Stock Up 0.4 %

Shares of NYSE:CNI opened at $125.30 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47. The firm has a market capitalization of $80.03 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. The firm’s 50-day moving average is $129.49 and its two-hundred day moving average is $122.34. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) 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 analyst estimates of $3.25 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is 39.87%.

Hedge Funds Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $769,556,000. Canoe Financial LP boosted its holdings in shares of Canadian National Railway by 8,401.1% in the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after acquiring an additional 3,960,049 shares during the period. Capital International Investors raised its stake in shares of Canadian National Railway by 63.2% during the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after purchasing an additional 2,951,506 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Canadian National Railway during the third quarter worth approximately $273,243,000. Finally, Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 9.6% during the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.