Q3 2024 Earnings Estimate for Canadian National Railway Issued By Zacks Research (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research report issued to clients and investors on Wednesday, May 1st. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $1.59 per share for the quarter, down from their prior forecast of $1.60. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.90 per share. Zacks Research also issued estimates for Canadian National Railway’s FY2024 earnings at $6.00 EPS, Q1 2025 earnings at $1.48 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.64 EPS.

A number of other brokerages have also recently commented on CNI. Citigroup boosted their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Barclays upped their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Stifel Nicolaus upped their price objective on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, April 12th. StockNews.com raised Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Susquehanna Bancshares increased their price target on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, January 8th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $149.05.

Canadian National Railway Stock Performance

Shares of CNI opened at $123.54 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average price is $128.73 and its 200-day moving average price is $123.04. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The stock has a market cap of $78.90 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.17 and a beta of 0.89.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CNI. Raymond James Financial Services Advisors Inc. boosted its position in shares of Canadian National Railway by 0.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 76,994 shares of the transportation company’s stock valued at $8,341,000 after buying an additional 615 shares during the period. Lindbrook Capital LLC boosted its position in shares of Canadian National Railway by 13.8% during the third quarter. Lindbrook Capital LLC now owns 1,718 shares of the transportation company’s stock valued at $186,000 after buying an additional 208 shares during the period. Value Partners Investments Inc. boosted its position in shares of Canadian National Railway by 0.5% during the third quarter. Value Partners Investments Inc. now owns 254,642 shares of the transportation company’s stock valued at $27,703,000 after buying an additional 1,191 shares during the period. NBT Bank N A NY purchased a new position in shares of Canadian National Railway during the third quarter valued at approximately $2,119,000. Finally, Advisor Partners II LLC boosted its position in shares of Canadian National Railway by 3.7% during the third quarter. Advisor Partners II LLC now owns 9,388 shares of the transportation company’s stock valued at $1,017,000 after buying an additional 331 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s payout ratio is currently 40.03%.

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.