Q2 2024 EPS Estimates for Canadian National Railway Cut by Analyst (NYSE:CNI)

Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) – Equities research analysts at Zacks Research cut their Q2 2024 EPS estimates for Canadian National Railway in a note issued to investors on Tuesday, February 6th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $1.31 per share for the quarter, down from their prior estimate of $1.42. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 per share. Zacks Research also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.26 EPS, Q4 2024 earnings at $1.48 EPS, Q2 2025 earnings at $1.44 EPS and Q3 2025 earnings at $1.60 EPS.

A number of other equities analysts also recently commented on CNI. Susquehanna raised their target price on shares of Canadian National Railway from $112.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Wells Fargo & Company increased their price objective on shares of Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Stephens upped their target price on shares of Canadian National Railway from $122.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, January 4th. Barclays lifted their price target on shares of Canadian National Railway from $109.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 25th. Finally, TD Securities downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $144.20.

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Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $129.16 on Thursday. The business’s fifty day moving average price is $123.48 and its 200 day moving average price is $115.93. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $129.66. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $83.16 billion, a P/E ratio of 20.37, a PEG ratio of 2.85 and a beta of 0.88.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be issued a dividend of $0.638 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, March 6th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s payout ratio is 36.59%.

Hedge Funds Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNI. Modera Wealth Management LLC acquired a new position in shares of Canadian National Railway during the second quarter valued at approximately $246,000. Kistler Tiffany Companies LLC grew its stake in shares of Canadian National Railway by 318.2% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 3,906 shares of the transportation company’s stock worth $473,000 after purchasing an additional 2,972 shares during the last quarter. Capital International Sarl raised its holdings in shares of Canadian National Railway by 637.5% in the 2nd quarter. Capital International Sarl now owns 16,476 shares of the transportation company’s stock worth $1,997,000 after purchasing an additional 14,242 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Canadian National Railway by 0.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 76,994 shares of the transportation company’s stock valued at $8,341,000 after purchasing an additional 615 shares during the last quarter. Finally, Vise Technologies Inc. boosted its holdings in Canadian National Railway by 45.5% during the second quarter. Vise Technologies Inc. now owns 3,083 shares of the transportation company’s stock worth $373,000 after buying an additional 964 shares in the last quarter. 67.60% of the stock is owned by institutional investors.

About Canadian National Railway

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Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.

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Earnings History and Estimates for Canadian National Railway (NYSE:CNI)

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