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

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Desjardins lowered their Q2 2024 earnings estimates for shares of Canadian National Railway in a note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates 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.

CNI has been the subject of several other research reports. Barclays raised their price target on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their target price on 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. TD Securities cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Jefferies Financial Group began coverage on Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Finally, Stephens reiterated an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a research report on Wednesday. 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $147.86.

Canadian National Railway Trading Down 5.1 %

Shares of Canadian National Railway stock opened at $122.80 on Thursday. The business has a fifty day simple moving average of $129.68 and a two-hundred day simple moving average of $122.20. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company has a market capitalization of $78.43 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion.

Hedge Funds Weigh In On Canadian National Railway

Several institutional investors have recently added to or reduced their stakes in the business. PDS Planning Inc lifted its stake in Canadian National Railway by 2.0% in the fourth quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock valued at $574,000 after buying an additional 89 shares during the period. Tacita Capital Inc increased its holdings in shares of Canadian National Railway by 0.4% during the third quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock valued at $2,972,000 after acquiring an additional 97 shares in the last quarter. Bfsg LLC increased its holdings in shares of Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Canadian National Railway by 1.0% during the third quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock valued at $1,163,000 after acquiring an additional 110 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of Canadian National Railway by 1.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock valued at $1,137,000 after acquiring an additional 111 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.