Q3 2024 Earnings Forecast for Canadian National Railway Issued By Zacks Research (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of Canadian National Railway in a research report issued on Wednesday, May 1st. Zacks Research analyst M. Basu now expects that the transportation company will earn $1.59 per share for the quarter, down from their previous forecast of $1.60. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.90 per share. Zacks Research also issued estimates for Canadian National Railway’s FY2024 earnings at $6.00 EPS, Q1 2025 earnings at $1.48 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.64 EPS.

CNI has been the topic of several other research reports. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Citigroup raised their target price on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. StockNews.com upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Stephens restated an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday, April 24th. Finally, TD Securities lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Stock Performance

Shares of CNI opened at $126.18 on Monday. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The stock has a fifty day moving average price of $128.62 and a 200-day moving average price of $123.19. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The firm has a market cap of $80.59 billion, a PE ratio of 20.12, a P/E/G ratio of 2.17 and a beta of 0.89.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Canadian National Railway by 36.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 16,922 shares of the transportation company’s stock valued at $2,229,000 after acquiring an additional 4,551 shares during the last quarter. Duality Advisers LP boosted its holdings in Canadian National Railway by 53.3% in the first quarter. Duality Advisers LP now owns 19,095 shares of the transportation company’s stock worth $2,515,000 after purchasing an additional 6,637 shares during the period. Broderick Brian C increased its stake in Canadian National Railway by 2.0% during the first quarter. Broderick Brian C now owns 109,518 shares of the transportation company’s stock valued at $14,425,000 after purchasing an additional 2,179 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Canadian National Railway by 6.0% during the first quarter. Signaturefd LLC now owns 11,516 shares of the transportation company’s stock worth $1,517,000 after purchasing an additional 654 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in shares of Canadian National Railway in the 1st quarter worth about $4,451,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.23%.

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.