Research Analysts Set Expectations for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at National Bank Financial cut their FY2024 earnings estimates for Canadian National Railway in a note issued to investors on Tuesday, December 3rd. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings of $5.21 per share for the year, down from their prior estimate of $5.37. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.33 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.46 EPS, Q1 2025 earnings at $1.26 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.65 EPS, FY2025 earnings at $5.74 EPS and FY2026 earnings at $6.43 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the stock. Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Trading Up 0.5 %

CNI opened at $109.66 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The company has a market cap of $69.06 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89. The firm has a 50 day simple moving average of $111.98 and a 200 day simple moving average of $116.28. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.23%. Canadian National Railway’s payout ratio is 39.26%.

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds have recently made changes to their positions in CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Canadian National Railway in the 2nd quarter valued at approximately $26,000. Addison Advisors LLC boosted its position in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the period. Fortitude Family Office LLC boosted its position in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after buying an additional 229 shares during the period. ORG Partners LLC acquired a new stake in Canadian National Railway during the 2nd quarter worth approximately $34,000. Finally, Coastline Trust Co acquired a new stake in Canadian National Railway during the 3rd quarter worth approximately $34,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.