Analysts Set Expectations for Canadian National Railway’s Q3 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at Raymond James cut their Q3 2024 earnings per share estimates for shares of Canadian National Railway in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now expects 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 $5.93 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.

Several other equities analysts have also commented on the company. Wells Fargo & Company increased their price objective 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. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Jefferies Financial Group initiated coverage on Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 price target on the stock. Finally, Susquehanna raised their price target on Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday. 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, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $148.60.

Canadian National Railway Stock Performance

NYSE:CNI opened at $124.78 on Wednesday. The business’s 50-day moving average price is $129.58 and its two-hundred day moving average price is $122.22. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The stock has a market cap of $79.70 billion, a P/E ratio of 19.90, a PEG ratio of 2.26 and a beta of 0.88. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

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

Canadian National Railway Cuts Dividend

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

Institutional Trading of Canadian National Railway

Several large investors have recently modified their holdings of the company. CWM LLC grew its holdings in Canadian National Railway by 9.3% during the third quarter. CWM LLC now owns 2,983 shares of the transportation company’s stock valued at $323,000 after purchasing an additional 255 shares during the period. Meridian Wealth Management LLC grew its holdings in Canadian National Railway by 69.5% during the third quarter. Meridian Wealth Management LLC now owns 14,660 shares of the transportation company’s stock valued at $1,588,000 after purchasing an additional 6,013 shares during the period. Coronation Fund Managers Ltd. grew its holdings in Canadian National Railway by 22.1% during the third quarter. Coronation Fund Managers Ltd. now owns 706,327 shares of the transportation company’s stock valued at $76,516,000 after purchasing an additional 127,867 shares during the period. Norris Perne & French LLP MI grew its holdings in Canadian National Railway by 51.4% during the third quarter. Norris Perne & French LLP MI now owns 2,726 shares of the transportation company’s stock valued at $295,000 after purchasing an additional 926 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Canadian National Railway by 19.8% during the third quarter. Ballentine Partners LLC now owns 2,148 shares of the transportation company’s stock valued at $233,000 after purchasing an additional 355 shares during the period. 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.