Raymond James Equities Analysts Decrease Earnings Estimates for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Raymond James reduced their Q1 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a report released on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings per share of $1.26 for the quarter, down from their prior estimate of $1.29. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 per share. Raymond James also issued estimates for Canadian National Railway’s Q2 2024 earnings at $1.45 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion.

Several other research analysts also recently weighed in on the company. Susquehanna Bancshares boosted their target price on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research note on Monday, January 8th. CIBC downgraded Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Citigroup lifted their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 10th. Finally, Bank of America raised 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. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $147.52.

Canadian National Railway Stock Up 0.1 %

Shares of CNI stock opened at $129.39 on Tuesday. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The stock’s fifty day moving average price is $129.80 and its 200 day moving average price is $122.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. The company has a market cap of $82.64 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.22 and a beta of 0.88.

Hedge Funds Weigh In On Canadian National Railway

A number of large investors have recently bought and sold shares of CNI. Norges Bank acquired a new position in Canadian National Railway in the 4th quarter worth about $769,556,000. Canoe Financial LP raised its holdings in Canadian National Railway by 8,401.1% in the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after purchasing an additional 3,960,049 shares during the period. Capital International Investors raised its holdings in Canadian National Railway by 63.2% in the 4th 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 period. Artisan Partners Limited Partnership acquired a new position in Canadian National Railway in the 3rd quarter worth about $273,243,000. Finally, Wellington Management Group LLP raised its holdings in Canadian National Railway by 9.6% in the 4th 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 period. Institutional investors and hedge funds 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.