Q2 2024 Earnings Forecast for Canadian National Railway (NYSE:CNI) Issued By Desjardins

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at Desjardins dropped their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings per share of $1.36 for the quarter, down from their previous estimate of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.47 EPS and Q4 2024 earnings at $1.78 EPS.

Several other equities research analysts have also recently commented on CNI. TD Securities cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Company lifted their price objective 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. Stifel Nicolaus lifted their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Citigroup lifted their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Jefferies Financial Group assumed coverage on Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 target price on the stock. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $149.05.

Canadian National Railway Stock Up 0.4 %

NYSE CNI opened at $125.30 on Thursday. The stock has a fifty day moving average of $129.49 and a 200-day moving average of $122.34. The stock has a market capitalization of $80.03 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%.

Institutional Trading of Canadian National Railway

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Triasima Portfolio Management inc. acquired a new stake in shares of Canadian National Railway in the first quarter valued at about $21,981,000. Harrington Investments INC increased its position in shares of Canadian National Railway by 0.8% in the first quarter. Harrington Investments INC now owns 20,358 shares of the transportation company’s stock valued at $2,681,000 after acquiring an additional 164 shares during the last quarter. UMB Bank n.a. increased its position in shares of Canadian National Railway by 95.3% in the first quarter. UMB Bank n.a. now owns 1,549 shares of the transportation company’s stock valued at $204,000 after acquiring an additional 756 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Canadian National Railway during the first quarter worth approximately $109,000. Finally, SYSTM Wealth Solutions LLC increased its position in Canadian National Railway by 5.6% during the first quarter. SYSTM Wealth Solutions LLC now owns 4,395 shares of the transportation company’s stock worth $579,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 39.87%.

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.