Research Analysts Offer Predictions for Canadian National Railway’s Q1 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Stock analysts at Raymond James cut their Q1 2024 EPS estimates for Canadian National Railway in a research note issued to investors on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the company will post earnings of $1.73 per share for the quarter, down from their prior forecast of $1.74. Raymond James has a “Outperform” rating and a $190.00 price objective on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. Raymond James also issued estimates for Canadian National Railway’s Q2 2024 earnings at $1.99 EPS and Q4 2024 earnings at $2.25 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last released its quarterly earnings results on Tuesday, January 23rd. The company reported C$2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.96 by C$0.06. The business had revenue of C$4.47 billion for the quarter, compared to the consensus estimate of C$4.38 billion. Canadian National Railway had a net margin of 33.43% and a return on equity of 27.11%.

CNR has been the topic of a number of other reports. Royal Bank of Canada boosted their price target on shares of Canadian National Railway from C$171.00 to C$172.00 and gave the company a “sector perform” rating in a research note on Wednesday. ATB Capital lifted their price objective on shares of Canadian National Railway from C$165.00 to C$180.00 and gave the company a “sector perform” rating in a report on Wednesday, January 24th. CIBC lifted their price objective on shares of Canadian National Railway from C$177.00 to C$183.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. BMO Capital Markets lifted their price objective on shares of Canadian National Railway from C$185.00 to C$195.00 in a report on Monday, April 1st. Finally, Barclays lifted their price objective on shares of Canadian National Railway from C$170.00 to C$175.00 in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$184.50.

Canadian National Railway Price Performance

Canadian National Railway stock opened at C$168.35 on Tuesday. The company’s 50 day simple moving average is C$176.07 and its 200-day simple moving average is C$165.60. The company has a market capitalization of C$107.78 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. Canadian National Railway has a 1 year low of C$143.13 and a 1 year high of C$181.34. The company has a debt-to-equity ratio of 93.89, a quick ratio of 0.58 and a current ratio of 0.61.

Insiders Place Their Bets

In other Canadian National Railway news, Director Shauneen Elizabeth Bruder acquired 6,000 shares of the stock in a transaction on Thursday, February 1st. The shares were bought at an average price of C$168.44 per share, with a total value of C$1,010,640.00. In related news, Senior Officer Derek Michael Taylor sold 2,610 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$131.26, for a total transaction of C$342,577.38. Also, Director Shauneen Elizabeth Bruder acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of C$168.44 per share, for a total transaction of C$1,010,640.00. 1.67% of the stock is owned by insiders.

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.