CNI FY2024 EPS Lowered by National Bank Financial

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at National Bank Financial cut their FY2024 earnings estimates for Canadian National Railway in a research note issued to investors on Monday, January 13th. National Bank Financial analyst C. Doerksen now expects that the transportation company will post earnings of $4.97 per share for the year, down from their prior estimate of $5.21. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.31 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.32 EPS, Q1 2025 earnings at $1.21 EPS, Q2 2025 earnings at $1.32 EPS, Q3 2025 earnings at $1.37 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $5.47 EPS and FY2026 earnings at $6.13 EPS.

CNI has been the topic of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and set a $174.00 target price on shares of Canadian National Railway in a report on Friday, January 10th. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America dropped their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group lowered their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.77.

Canadian National Railway Price Performance

NYSE:CNI opened at $100.17 on Wednesday. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The firm has a market capitalization of $62.99 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 2.43 and a beta of 0.91. The stock’s 50 day moving average price is $106.08 and its two-hundred day moving average price is $112.17. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the firm earned $1.26 EPS. Canadian National Railway’s quarterly revenue was up 3.1% compared to the same quarter last year.

Hedge Funds Weigh In On Canadian National Railway

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its holdings in shares of Canadian National Railway by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after purchasing an additional 4,698 shares in the last quarter. Unigestion Holding SA lifted its position in Canadian National Railway by 363.6% during the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock worth $18,012,000 after purchasing an additional 120,687 shares during the period. Principal Financial Group Inc. grew its stake in Canadian National Railway by 29.6% during the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after buying an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian National Railway by 5.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after buying an additional 202,303 shares during the period. Finally, Partners Group Holding AG increased its holdings in Canadian National Railway by 16.3% in the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after buying an additional 56,849 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

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.