National Bank Financial Comments on Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at National Bank Financial decreased their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a research report issued on Tuesday, April 23rd. National Bank Financial analyst C. Doerksen now expects that the transportation company will earn $1.37 per share for the quarter, down from their previous forecast of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2025 earnings at $6.63 EPS.

A number of other research analysts also recently commented on the company. TD Securities downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. CIBC downgraded Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Citigroup increased their price objective on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Jefferies Financial Group started coverage on Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $147.86.

Canadian National Railway Trading Down 5.1 %

CNI opened at $122.80 on Thursday. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a market cap of $78.43 billion, a P/E ratio of 19.59, a PEG ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The business’s 50-day simple moving average is $129.68 and its 200-day simple moving average is $122.20.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bfsg LLC grew its position in shares of Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC increased its stake in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after acquiring an additional 207 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in Canadian National Railway by 241.1% during the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after acquiring an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Canadian National Railway by 121.0% during the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after acquiring an additional 202 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.