Q3 2024 Earnings Estimate for Canadian National Railway Issued By Raymond James (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at Raymond James cut their Q3 2024 EPS estimates for Canadian National Railway in a report released on Wednesday, September 11th. Raymond James analyst S. Hansen now anticipates that the transportation company will earn $1.30 per share for the quarter, down from their previous estimate of $1.47. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.64 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $5.55 EPS and FY2025 earnings at $6.36 EPS.

Several other research firms also recently weighed in on CNI. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $146.25 to $130.67 in a report on Monday, July 8th. Barclays lowered their target price on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus decreased their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company dropped their target price on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Sixteen investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $137.35.

Canadian National Railway Price Performance

Shares of CNI opened at $116.55 on Thursday. The business’s fifty day moving average is $116.17 and its 200 day moving average is $122.72. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market cap of $73.71 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.34 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway in the 2nd quarter worth approximately $26,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. GAMMA Investing LLC lifted its position in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares during the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway in the second quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Canadian National Railway in the 1st quarter valued at $64,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.07%.

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.