Canadian National Railway to Post Q2 2024 Earnings of $1.46 Per Share, Raymond James Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Raymond James lifted their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a research report issued on Wednesday, April 24th. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.46 per share 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.

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

A number of other research firms have also commented on CNI. Susquehanna increased 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. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. 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. Barclays increased their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Finally, Citigroup increased their price objective on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $149.05.

Canadian National Railway Stock Up 0.4 %

NYSE CNI opened at $125.30 on Friday. The firm has a market cap of $80.03 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The stock’s 50 day simple moving average is $129.49 and its 200 day simple moving average is $122.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio is 39.87%.

Institutional Trading of Canadian National Railway

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Canadian National Railway by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after purchasing an additional 387,975 shares during the period. Wellington Management Group LLP grew its holdings in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after acquiring an additional 1,907,938 shares in the last quarter. FIL Ltd grew its holdings in shares of Canadian National Railway by 7.2% in the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after acquiring an additional 1,280,726 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Canadian National Railway by 5.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after acquiring an additional 625,500 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Canadian National Railway by 2.8% in the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after acquiring an additional 314,600 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.