Canadian National Railway (NYSE:CNI) Forecasted to Earn Q4 2024 Earnings of $1.61 Per Share

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Raymond James cut their Q4 2024 earnings per share estimates for Canadian National Railway in a research note issued on Wednesday, September 11th. Raymond James analyst S. Hansen now expects that the transportation company will post earnings per share of $1.61 for the quarter, down from their prior estimate of $1.66. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.60 per share.

A number of other research firms have also commented on CNI. Barclays dropped their price objective on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Susquehanna dropped their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Stifel Nicolaus dropped their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $137.35.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $119.44 on Friday. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The business has a 50-day moving average of $116.17 and a two-hundred day moving average of $122.70. The stock has a market capitalization of $75.21 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.38 and a beta of 0.88. 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 (NYSE:CNI) (TSE:CNR) last announced 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). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the firm earned $1.31 EPS. Canadian National Railway’s quarterly revenue was up 6.7% on a year-over-year basis.

Institutional Investors Weigh In On Canadian National Railway

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

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.06%. Canadian National Railway’s payout ratio is presently 39.08%.

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.