Canadian National Railway to Post Q2 2024 Earnings of $1.86 Per Share, Desjardins Forecasts (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Research analysts at Desjardins dropped their Q2 2024 earnings estimates for shares of Canadian National Railway in a research report issued on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the company will earn $1.86 per share for the quarter, down from their previous estimate of $1.88. Desjardins has a “Buy” rating and a $195.00 price objective on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $2.01 EPS, Q4 2024 earnings at $2.43 EPS, FY2026 earnings at $9.94 EPS and FY2028 earnings at $11.96 EPS.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Canadian National Railway from C$171.00 to C$172.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Sanford C. Bernstein increased their price objective on shares of Canadian National Railway from C$191.00 to C$195.00 and gave the company an “outperform” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Canadian National Railway from C$158.00 to C$164.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. ATB Capital raised their target price on shares of Canadian National Railway from C$165.00 to C$180.00 and gave the company a “sector perform” rating in a report on Wednesday, January 24th. Finally, Scotiabank raised their price target on Canadian National Railway from C$173.00 to C$184.00 and gave the stock a “sector perform” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$184.50.

Canadian National Railway Price Performance

Shares of TSE:CNR opened at C$171.25 on Thursday. The firm’s 50 day moving average price is C$175.91 and its 200-day moving average price is C$165.81. Canadian National Railway has a twelve month low of C$143.13 and a twelve month high of C$181.34. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 93.89. The stock has a market capitalization of C$109.64 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last posted its earnings results on Tuesday, January 23rd. The company reported C$2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.96 by C$0.06. Canadian National Railway had a net margin of 33.43% and a return on equity of 27.11%. The business had revenue of C$4.47 billion for the quarter, compared to analysts’ expectations of C$4.38 billion.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.845 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.38 annualized dividend and a dividend yield of 1.97%. Canadian National Railway’s payout ratio is currently 39.62%.

Insider Activity at Canadian National Railway

In other news, Director Shauneen Elizabeth Bruder acquired 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of C$168.44 per share, for a total transaction of C$1,010,640.00. In other Canadian National Railway news, Senior Officer Derek Michael Taylor sold 2,610 shares of Canadian National Railway stock in a transaction dated Monday, February 26th. The stock was sold at an average price of C$131.26, for a total value of C$342,577.38. Also, Director Shauneen Elizabeth Bruder bought 6,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of C$168.44 per share, for a total transaction of C$1,010,640.00. 1.67% of the stock is currently owned by corporate insiders.

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.