Raymond James Weighs in on Canadian National Railway’s Q1 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Raymond James cut their Q1 2024 earnings estimates for Canadian National Railway in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst S. Hansen now anticipates that the transportation company will earn $1.26 per share for the quarter, down from their previous 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 released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Stephens upped their price objective on shares of Canadian National Railway from $122.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, January 4th. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Susquehanna Bancshares upped their price objective on shares of Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Wednesday, April 10th. Eighteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $147.52.

Canadian National Railway Stock Up 1.3 %

Canadian National Railway stock opened at $129.32 on Tuesday. The firm has a market capitalization of $82.60 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.22 and a beta of 0.88. The company has a 50-day simple moving average of $129.72 and a 200-day simple moving average of $122.04. Canadian National Railway has a one year low of $103.96 and a one year 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.

Institutional Trading of Canadian National Railway

A number of hedge funds have recently bought and sold shares of CNI. PFG Investments LLC increased its holdings in shares of Canadian National Railway by 49.0% in the 1st quarter. PFG Investments LLC now owns 2,470 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 812 shares during the period. Drive Wealth Management LLC bought a new stake in shares of Canadian National Railway in the first quarter valued at approximately $311,000. Outlook Wealth Advisors LLC boosted its position in shares of Canadian National Railway by 28.0% in the first quarter. Outlook Wealth Advisors LLC now owns 2,107 shares of the transportation company’s stock valued at $278,000 after acquiring an additional 461 shares during the period. Raymond James & Associates lifted its position in Canadian National Railway by 6.4% in the first quarter. Raymond James & Associates now owns 248,409 shares of the transportation company’s stock worth $32,718,000 after purchasing an additional 14,956 shares during the period. Finally, Waycross Investment Management Co lifted its position in Canadian National Railway by 18.4% in the first quarter. Waycross Investment Management Co now owns 6,317 shares of the transportation company’s stock worth $832,000 after purchasing an additional 981 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.