Canadian National Railway Forecasted to Post Q2 2024 Earnings of $1.37 Per Share (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at National Bank Financial dropped their Q2 2024 EPS estimates for Canadian National Railway in a report released on Tuesday, April 23rd. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings of $1.37 per share for the quarter, down from their previous estimate of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2025 earnings at $6.63 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.17%.

Several other analysts have also issued reports on the stock. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. TD Securities lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, April 12th. CIBC lowered shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 price target on the stock. Eighteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $148.60.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $124.78 on Thursday. The firm has a market cap of $79.70 billion, a price-to-earnings ratio of 19.90, 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 quick ratio of 0.47 and a current ratio of 0.61. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The firm’s 50-day simple moving average is $129.58 and its two-hundred day simple moving average is $122.22.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bfsg LLC increased its stake 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 acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 207 shares in the last quarter. JFS Wealth Advisors LLC increased its stake 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 acquiring an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 valued at $40,000 after purchasing an additional 202 shares during the last quarter. Finally, Rational Advisors LLC purchased a new stake in Canadian National Railway during the 3rd quarter valued at about $41,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.00%. Canadian National Railway’s dividend payout ratio (DPR) is presently 40.03%.

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.