CNI FY2024 EPS Forecast Decreased by National Bank Financial

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at National Bank Financial dropped their FY2024 EPS estimates for Canadian National Railway in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst C. Doerksen now expects that the transportation company will post earnings per share of $5.37 for the year, down from their previous forecast of $5.56. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.57 EPS and FY2025 earnings at $6.11 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis.

A number of other equities analysts have also weighed in on CNI. Susquehanna lowered their price target 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. The Goldman Sachs Group dropped their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Barclays increased their price objective 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. Finally, Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Trading Up 0.1 %

Shares of CNI opened at $110.96 on Thursday. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock has a market cap of $69.88 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. The firm’s fifty day moving average is $115.97 and its two-hundred day moving average is $119.66. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93.

Canadian National Railway Cuts Dividend

The business also recently announced 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. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Institutional Investors Weigh In On Canadian National Railway

Several large investors have recently bought and sold shares of the stock. Financial Advocates Investment Management grew its position in shares of Canadian National Railway by 6.0% during the third quarter. Financial Advocates Investment Management now owns 3,817 shares of the transportation company’s stock worth $447,000 after buying an additional 216 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Canadian National Railway by 3.2% in the third quarter. Pinnacle Associates Ltd. now owns 103,395 shares of the transportation company’s stock valued at $12,990,000 after acquiring an additional 3,242 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in Canadian National Railway by 2.8% in the third quarter. First Trust Direct Indexing L.P. now owns 9,962 shares of the transportation company’s stock worth $1,167,000 after acquiring an additional 268 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in Canadian National Railway by 11,610.3% during the 3rd quarter. Pathway Financial Advisers LLC now owns 178,114 shares of the transportation company’s stock worth $20,866,000 after acquiring an additional 176,593 shares in the last quarter. Finally, Valmark Advisers Inc. purchased a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $716,000. Hedge funds and other 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.