Raymond James Comments on Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Raymond James lifted their Q2 2024 earnings per share estimates for Canadian National Railway in a research note issued on Wednesday, April 24th. Raymond James analyst S. Hansen now expects that the transportation company will post earnings per share of $1.46 for the quarter, up from their prior estimate of $1.45. 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 FY2024 earnings at $5.89 EPS and FY2025 earnings at $6.77 EPS.

CNI has been the topic of several other reports. CIBC lowered Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Stephens reiterated an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday. Barclays lifted their price objective on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Finally, Stifel Nicolaus lifted their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $148.60.

Canadian National Railway Price Performance

NYSE CNI opened at $124.78 on Friday. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The stock’s 50-day moving average is $129.58 and its two-hundred day moving average is $122.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47. The firm has a market cap of $79.70 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its 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 23.27% and a net margin of 32.81%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors have recently added to or reduced their stakes in the stock. PDS Planning Inc boosted its holdings in shares of Canadian National Railway by 2.0% in the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock worth $574,000 after acquiring an additional 89 shares in the last quarter. Tacita Capital Inc boosted its holdings in shares of Canadian National Railway by 0.4% in the 3rd quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock worth $2,972,000 after acquiring an additional 97 shares in the last quarter. Bfsg LLC boosted its holdings 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. Signaturefd LLC boosted its holdings in shares of Canadian National Railway by 1.0% in the 3rd quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after acquiring an additional 110 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its holdings in shares of Canadian National Railway by 1.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock worth $1,137,000 after acquiring an additional 111 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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 dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s payout ratio is 39.71%.

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.