Raymond James Weighs in on Canadian National Railway’s Q1 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at Raymond James reduced their Q1 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.26 per share for the quarter, down from their prior forecast of $1.29. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 per share. Raymond James also issued estimates for Canadian National Railway’s Q2 2024 earnings at $1.45 EPS.

CNI has been the subject of a number of other research reports. TD Securities cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Jefferies Financial Group initiated coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price target for the company. CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Citigroup increased their price target on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company increased their price target on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Eighteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $147.52.

Canadian National Railway Price Performance

Shares of CNI opened at $129.32 on Tuesday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The business has a 50-day simple moving average of $129.72 and a two-hundred day simple moving average of $122.04. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The stock has a market cap of $82.60 billion, a PE ratio of 20.40, a PEG ratio of 2.22 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Canadian National Railway by 766.7% during the first 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. JFS Wealth Advisors LLC boosted its position in Canadian National Railway by 241.1% in the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after purchasing an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Canadian National Railway by 121.0% in the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after purchasing an additional 202 shares during the last quarter. Keener Financial Planning LLC purchased a new position in Canadian National Railway in the fourth quarter worth $46,000. Finally, Rational Advisors LLC purchased a new position in Canadian National Railway in the third quarter worth $41,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.