Q3 2024 EPS Estimates for Canadian National Railway Lowered by Analyst (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Zacks Research decreased their Q3 2024 earnings estimates for shares of Canadian National Railway in a report issued on Wednesday, May 1st. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $1.59 per share for the quarter, down from their prior estimate of $1.60. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.90 per share. Zacks Research also issued estimates for Canadian National Railway’s FY2024 earnings at $6.00 EPS, Q1 2025 earnings at $1.48 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.64 EPS.

CNI has been the topic of several other reports. Wells Fargo & Company raised their price target on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Jefferies Financial Group began coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 price objective for the company. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, CIBC cut shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $149.05.

Canadian National Railway Trading Down 0.7 %

Shares of NYSE CNI opened at $125.29 on Monday. The company’s 50 day simple moving average is $128.50 and its 200 day simple moving average is $123.32. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The firm has a market capitalization of $80.02 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.17 and a beta of 0.89.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is currently 40.03%.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently modified their holdings of the business. Choate Investment Advisors raised its stake in shares of Canadian National Railway by 2.0% during the 1st quarter. Choate Investment Advisors now owns 154,612 shares of the transportation company’s stock worth $20,364,000 after purchasing an additional 2,975 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Canadian National Railway by 82.2% during the first quarter. Concurrent Investment Advisors LLC now owns 6,274 shares of the transportation company’s stock worth $826,000 after acquiring an additional 2,830 shares in the last quarter. Atomi Financial Group Inc. raised its position in Canadian National Railway by 32.6% during the first quarter. Atomi Financial Group Inc. now owns 2,784 shares of the transportation company’s stock worth $367,000 after acquiring an additional 684 shares in the last quarter. Reaves W H & Co. Inc. lifted its stake in Canadian National Railway by 210.9% in the first quarter. Reaves W H & Co. Inc. now owns 456,706 shares of the transportation company’s stock valued at $60,153,000 after acquiring an additional 309,806 shares during the last quarter. Finally, Forsta AP Fonden grew its position in shares of Canadian National Railway by 7.8% in the 1st quarter. Forsta AP Fonden now owns 136,900 shares of the transportation company’s stock valued at $18,045,000 after acquiring an additional 9,900 shares during the period. 80.74% of the stock is currently 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.