Equities Analysts Set Expectations for Canadian National Railway’s Q3 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Atb Cap Markets lowered their Q3 2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued on Monday, October 14th. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will post earnings of $1.30 per share for the quarter, down from their previous forecast of $1.33. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.54 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s FY2024 earnings at $5.57 EPS, Q1 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.80 EPS, Q1 2026 earnings at $1.56 EPS, Q2 2026 earnings at $1.65 EPS, Q3 2026 earnings at $1.66 EPS and FY2026 earnings at $6.82 EPS.

CNI has been the topic of several other research reports. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Susquehanna dropped their price target on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Stephens decreased their target price on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $126.02.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $115.73 on Wednesday. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The stock has a market cap of $72.88 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.56 and a beta of 0.88. The firm’s 50-day moving average is $115.71 and its 200 day moving average is $120.36. 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 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 for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. Canadian National Railway’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.31 earnings per share.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GQG Partners LLC increased its holdings in shares of Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after purchasing an additional 93 shares in the last quarter. Choreo LLC raised its position in shares of Canadian National Railway by 1.5% in the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after acquiring an additional 97 shares during the period. Grove Bank & Trust raised its position in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after acquiring an additional 97 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Canadian National Railway by 2.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after acquiring an additional 100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Canadian National Railway by 1.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after acquiring an additional 102 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

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.