FY2024 Earnings Estimate for Canadian National Railway (NYSE:CNI) Issued By Desjardins

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Desjardins lifted their FY2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings of $5.88 per share for the year, up from their previous estimate of $5.78. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s FY2025 earnings at $6.53 EPS, FY2026 earnings at $7.30 EPS, FY2027 earnings at $7.97 EPS and FY2028 earnings at $8.78 EPS.

CNI has been the topic of a number of other research reports. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. TD Securities downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Susquehanna Bancshares boosted their price objective on shares of Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Stephens reissued an “equal weight” rating and issued a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday. Finally, Citigroup lifted 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $149.05.

Canadian National Railway Stock Up 0.4 %

Shares of Canadian National Railway stock opened at $125.30 on Friday. The company’s 50 day moving average price is $129.49 and its 200-day moving average price is $122.34. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The stock has a market capitalization of $80.03 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.14 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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 firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Canadian National Railway during the 4th quarter valued at $769,556,000. Canoe Financial LP boosted its position in shares of Canadian National Railway by 8,401.1% during the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after buying an additional 3,960,049 shares during the last quarter. Capital International Investors increased its holdings in Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after buying an additional 2,951,506 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Canadian National Railway in the 3rd quarter worth about $273,243,000. Finally, Wellington Management Group LLP lifted its stake in Canadian National Railway by 9.6% during 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 during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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 given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is 39.87%.

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.