Q3 2024 EPS Estimates for Canadian National Railway (NYSE:CNI) Cut by Raymond James

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James reduced their Q3 2024 earnings per share estimates for Canadian National Railway in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.52 per share for the quarter, down from their prior estimate of $1.54. 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 Q4 2024 earnings at $1.64 EPS, FY2024 earnings at $5.87 EPS and FY2025 earnings at $6.02 EPS.

A number of other brokerages have also recently weighed in on CNI. Stephens lifted their price target on shares of Canadian National Railway from $122.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Barclays boosted their target price on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. 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 report on Wednesday, January 24th. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, CIBC downgraded shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Eighteen analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $147.52.

Canadian National Railway Stock Up 0.1 %

Shares of NYSE CNI opened at $129.39 on Wednesday. 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 stock has a market cap of $82.64 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.25 and a beta of 0.88. The firm has a 50 day moving average price of $129.80 and a 200 day moving average price of $122.20.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Canadian National Railway during the fourth quarter worth $769,556,000. Canoe Financial LP grew its stake 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 valued at $503,423,000 after buying an additional 3,960,049 shares during the last quarter. Capital International Investors lifted its position in Canadian National Railway by 63.2% during the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after acquiring an additional 2,951,506 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Canadian National Railway during the third quarter worth approximately $273,243,000. Finally, Wellington Management Group LLP grew its position in shares of Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.