Canadian National Railway to Post Q3 2022 Earnings of $1.48 Per Share, Raymond James Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) – Stock analysts at Raymond James upped their Q3 2022 earnings per share estimates for shares of Canadian National Railway in a report issued on Friday, April 22nd. Raymond James analyst S. Hansen now expects that the transportation company will earn $1.48 per share for the quarter, up from their previous forecast of $1.45. Raymond James currently has a “Market Perform” rating on the stock.

Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last posted its earnings results on Tuesday, January 25th. The transportation company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.15. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.66 billion. Canadian National Railway had a net margin of 33.77% and a return on equity of 19.91%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share.

A number of other equities research analysts have also recently issued reports on CNI. StockNews.com assumed coverage on shares of Canadian National Railway in a report on Thursday, March 31st. They set a “hold” rating for the company. Desjardins upped their price target on shares of Canadian National Railway from C$170.00 to C$172.00 in a report on Thursday, January 27th. CIBC upped their price target on shares of Canadian National Railway from C$165.00 to C$169.00 in a report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Canadian National Railway from $137.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, January 27th. Finally, Stephens upped their price target on shares of Canadian National Railway from $126.00 to $132.00 in a report on Tuesday, January 4th. Eighteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $147.86.

CNI stock opened at $123.39 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.10 and a quick ratio of 0.91. Canadian National Railway has a 52-week low of $100.66 and a 52-week high of $137.19. The company has a 50-day moving average of $127.32 and a two-hundred day moving average of $126.27. The stock has a market capitalization of $85.72 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First National Bank of Hutchinson acquired a new stake in shares of Canadian National Railway during the first quarter worth approximately $208,000. Allworth Financial LP increased its holdings in shares of Canadian National Railway by 548.0% in the first quarter. Allworth Financial LP now owns 3,013 shares of the transportation company’s stock valued at $404,000 after purchasing an additional 2,548 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Canadian National Railway by 2.5% in the first quarter. Truist Financial Corp now owns 44,423 shares of the transportation company’s stock valued at $5,959,000 after purchasing an additional 1,098 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Canadian National Railway in the first quarter valued at approximately $7,389,000. Finally, Hanson & Doremus Investment Management increased its holdings in shares of Canadian National Railway by 294.1% in the first quarter. Hanson & Doremus Investment Management now owns 201 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. 69.36% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 10th were issued a dividend of $0.579 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 9th. This represents a $2.32 annualized dividend and a dividend yield of 1.88%. Canadian National Railway’s dividend payout ratio (DPR) is presently 41.71%.

About Canadian National Railway (Get Rating)

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

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