Canadian National Railway Forecasted to Earn Q3 2024 Earnings of $1.27 Per Share (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at National Bank Financial decreased their Q3 2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued on Wednesday, September 11th. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings per share of $1.27 for the quarter, down from their previous forecast of $1.39. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.60 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.65 EPS, FY2024 earnings at $5.56 EPS and FY2025 earnings at $6.39 EPS.

Several other analysts have also commented on the stock. Bank of America lowered their price objective on shares of Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Susquehanna lowered their price objective on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company lowered their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Barclays lowered their target price on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Sixteen research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $137.35.

Canadian National Railway Stock Performance

Shares of CNI opened at $119.44 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a 50-day simple moving average of $116.17 and a two-hundred day simple moving average of $122.70. The firm has a market capitalization of $75.21 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.38 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share.

Institutional Investors Weigh In On Canadian National Railway

Large investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Canadian National Railway in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC grew its position in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the period. Addison Advisors LLC grew 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 acquiring an additional 148 shares during the period. ORG Partners LLC bought a new stake in shares of Canadian National Railway during the 2nd quarter valued at $34,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Canadian National Railway during the 1st quarter valued at $64,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.08%.

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.