Canadian National Railway (NYSE:CNI) Issues FY24 Earnings Guidance

Canadian National Railway (NYSE:CNI) (TSE:CNR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of approx CC$8.01 for the period, compared to the consensus EPS estimate of $8.05. Canadian National Railway also updated its FY 2024 guidance to 5.940-5.940 EPS.

Canadian National Railway Stock Performance

Shares of CNI stock traded down $0.04 during trading hours on Friday, reaching $124.74. The company had a trading volume of 188,381 shares, compared to its average volume of 1,014,063. The business has a fifty day moving average price of $129.58 and a 200-day moving average price of $122.22. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The firm has a market cap of $79.67 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. Sell-side analysts predict that Canadian National Railway will post 5.93 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s payout ratio is 39.71%.

Analysts Set New Price Targets

CNI has been the topic of a number of research reports. Stephens reissued an equal weight rating and issued a $140.00 price objective on shares of Canadian National Railway in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a hold rating in a report on Friday, April 12th. Susquehanna raised their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a neutral rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Canadian National Railway from $110.00 to $125.00 and gave the company an equal weight rating in a report on Wednesday, January 24th. Finally, Citigroup lifted their price target on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Eighteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $148.60.

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.