Desjardins Comments on Canadian National Railway’s Q2 2022 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) – Analysts at Desjardins issued their Q2 2022 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Wednesday, April 27th. Desjardins analyst B. Poirier expects that the transportation company will post earnings per share of $1.34 for the quarter. Desjardins also issued estimates for Canadian National Railway’s Q3 2022 earnings at $1.47 EPS, Q4 2022 earnings at $1.54 EPS, FY2022 earnings at $5.39 EPS and FY2023 earnings at $6.07 EPS.

A number of other analysts have also recently weighed in on CNI. Stephens boosted their price target on Canadian National Railway from $126.00 to $132.00 in a research report on Tuesday, January 4th. Wells Fargo & Company boosted their price target on Canadian National Railway from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Canadian National Railway from $137.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, January 27th. Raymond James cut Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Friday, April 22nd. Finally, National Bank Financial dropped their price objective on Canadian National Railway from C$172.00 to C$168.00 in a research note on Friday, April 8th. Eighteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $147.76.

Shares of NYSE:CNI opened at $121.16 on Friday. Canadian National Railway has a fifty-two week low of $100.66 and a fifty-two week high of $137.19. The business has a 50-day moving average of $127.04 and a two-hundred day moving average of $126.29. The stock has a market capitalization of $84.17 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.08 and a beta of 0.81. 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 (NYSE:CNIGet Rating) (TSE:CNR) last released its quarterly earnings data on Tuesday, April 26th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.07). Canadian National Railway had a net margin of 33.77% and a return on equity of 19.91%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the previous year, the business posted $0.97 EPS. Canadian National Railway’s revenue for the quarter was up 4.9% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in CNI. New York State Common Retirement Fund grew its stake in shares of Canadian National Railway by 17.1% in the 3rd quarter. New York State Common Retirement Fund now owns 188,221 shares of the transportation company’s stock valued at $21,768,000 after purchasing an additional 27,421 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Canadian National Railway by 2.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 70,422 shares of the transportation company’s stock valued at $8,151,000 after purchasing an additional 1,566 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $257,000. Financial Advocates Investment Management bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $638,000. Finally, JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $1,735,000. Institutional investors own 69.36% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be paid a dividend of $0.586 per share. This represents a $2.34 annualized dividend and a yield of 1.93%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, June 8th. Canadian National Railway’s payout ratio is currently 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.

Further Reading

Earnings History and Estimates for Canadian National Railway (NYSE:CNI)

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