Research Analysts Set Expectations for Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Desjardins cut their Q2 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research note issued on Tuesday, April 23rd. Desjardins analyst B. Poirier now expects that the transportation company will post earnings per share of $1.36 for the quarter, down from their previous forecast of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.47 EPS and Q4 2024 earnings at $1.78 EPS.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus raised their price target on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Citigroup raised their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Barclays raised their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. 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 note on Wednesday, January 24th. Finally, Susquehanna raised their price objective on Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday. Eighteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $147.86.

Canadian National Railway Price Performance

Shares of CNI stock opened at $122.80 on Thursday. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The firm has a market capitalization of $78.43 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.26 and a beta of 0.88. The stock has a 50 day moving average price of $129.68 and a 200 day moving average price of $122.20.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion.

Institutional Trading of Canadian National Railway

Institutional investors have recently made changes to their positions in the business. Bfsg LLC boosted its position in shares of Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Canadian National Railway by 241.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after purchasing an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Canadian National Railway by 121.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after acquiring an additional 202 shares during the period. Finally, Rational Advisors LLC acquired a new stake in Canadian National Railway during the 3rd quarter worth about $41,000. 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.