Desjardins Analysts Decrease Earnings Estimates for TSE:CNR

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Desjardins reduced their FY2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research note issued on Tuesday, October 22nd. Desjardins analyst B. Poirier now anticipates that the company will earn $7.28 per share for the year, down from their prior estimate of $7.32. Desjardins has a “Buy” rating and a $180.00 price target on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.26 per share. Desjardins also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.00 EPS, FY2025 earnings at $8.19 EPS, FY2026 earnings at $9.05 EPS, FY2027 earnings at $9.87 EPS and FY2028 earnings at $10.86 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last released its quarterly earnings results on Tuesday, July 23rd. The company reported C$1.84 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.93 by C($0.09). Canadian National Railway had a net margin of 32.02% and a return on equity of 27.41%. The firm had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.40 billion.

A number of other equities analysts also recently weighed in on CNR. Scotiabank cut their target price on Canadian National Railway from C$187.00 to C$180.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. CIBC reduced their price objective on Canadian National Railway from C$170.00 to C$160.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating in a research report on Monday, October 7th. Raymond James cut their price target on shares of Canadian National Railway from C$187.00 to C$180.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Finally, TD Securities decreased their price objective on shares of Canadian National Railway from C$180.00 to C$175.00 and set a “hold” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and a consensus price target of C$171.07.

Canadian National Railway Trading Up 0.5 %

Shares of CNR stock opened at C$154.25 on Thursday. The company has a debt-to-equity ratio of 107.62, a quick ratio of 0.58 and a current ratio of 0.63. The company has a market capitalization of C$97.10 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.38 and a beta of 0.65. Canadian National Railway has a 52-week low of C$144.23 and a 52-week high of C$181.34. The company has a 50-day simple moving average of C$157.28 and a two-hundred day simple moving average of C$164.26.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.845 per share. The ex-dividend date is Monday, December 9th. This represents a $3.38 dividend on an annualized basis and a yield of 2.19%. Canadian National Railway’s dividend payout ratio (DPR) is 40.14%.

Insiders Place Their Bets

In related news, Director David Lund Freeman purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of C$152.57 per share, for a total transaction of C$152,572.80. In other news, Director Shauneen Elizabeth Bruder bought 543 shares of the stock in a transaction on Wednesday, September 25th. The shares were acquired at an average cost of C$157.53 per share, for a total transaction of C$85,539.88. Also, Director David Lund Freeman purchased 1,000 shares of Canadian National Railway stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of C$152.57 per share, with a total value of C$152,572.80. Insiders purchased a total of 2,773 shares of company stock worth $437,437 in the last quarter. 2.64% of the stock is owned by company insiders.

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.