Canadian National Railway to Post Q1 2024 Earnings of $1.29 Per Share, Atb Cap Markets Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Atb Cap Markets increased their Q1 2024 earnings estimates for shares of Canadian National Railway in a report released on Tuesday, April 9th. Atb Cap Markets analyst C. Murray now expects that the transportation company will post earnings of $1.29 per share for the quarter, up from their previous estimate of $1.28. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.96 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s FY2024 earnings at $5.91 EPS, Q1 2025 earnings at $1.46 EPS and Q4 2025 earnings at $1.83 EPS.

Other equities analysts have also recently issued reports about the stock. Barclays boosted their target price on shares of 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. Stephens lifted their price target on shares of Canadian National Railway from $122.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, January 4th. Wells Fargo & Company lifted their price target on shares of Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $145.00 in a report on Wednesday. Finally, TD Securities lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Eighteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and an average target price of $147.52.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $128.47 on Friday. The firm has a 50 day moving average of $129.76 and a 200-day moving average of $121.01. The stock has a market capitalization of $82.26 billion, a PE ratio of 20.26, a PEG ratio of 2.34 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were paid a $0.638 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.55 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, March 6th. Canadian National Railway’s dividend payout ratio is currently 39.43%.

Institutional Investors Weigh In On Canadian National Railway

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Canadian National Railway by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after purchasing an additional 387,975 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. FIL Ltd boosted its stake in shares of Canadian National Railway by 7.2% in the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Canadian National Railway by 5.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Canadian National Railway by 2.8% in the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after purchasing an additional 314,600 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

About Canadian National Railway

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.