Raymond James Comments on Canadian National Railway’s Q1 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities research analysts at Raymond James decreased their Q1 2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the company will earn $1.73 per share for the quarter, down from their prior forecast of $1.74. Raymond James currently has a “Outperform” rating and a $190.00 target price on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. Raymond James also issued estimates for Canadian National Railway’s Q2 2024 earnings at $1.99 EPS and Q4 2024 earnings at $2.25 EPS.

CNR has been the subject of a number of other reports. TD Securities upped their price target on Canadian National Railway from C$180.00 to C$185.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Veritas Investment Research cut Canadian National Railway from a “buy” rating to a “reduce” rating and set a C$168.00 price objective on the stock. in a report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on Canadian National Railway from C$164.00 to C$171.00 in a report on Monday, April 1st. ATB Capital upped their price objective on Canadian National Railway from C$165.00 to C$180.00 and gave the company a “sector perform” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upped their price objective on Canadian National Railway from C$158.00 to C$164.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$183.36.

Canadian National Railway Price Performance

CNR stock opened at C$176.79 on Tuesday. The company has a debt-to-equity ratio of 93.89, a current ratio of 0.61 and a quick ratio of 0.58. The business has a 50 day simple moving average of C$176.20 and a 200-day simple moving average of C$165.58. The firm has a market capitalization of C$113.19 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. Canadian National Railway has a 1 year low of C$143.13 and a 1 year high of C$181.34.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported C$2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.96 by C$0.06. The business had revenue of C$4.47 billion during the quarter, compared to analyst estimates of C$4.38 billion. Canadian National Railway had a return on equity of 27.11% and a net margin of 33.43%.

Insiders Place Their Bets

In related news, Director Shauneen Elizabeth Bruder acquired 488 shares of Canadian National Railway stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of C$177.40 per share, for a total transaction of C$86,571.20. In other news, Senior Officer Derek Michael Taylor sold 2,610 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$131.26, for a total value of C$342,577.38. Also, Director Shauneen Elizabeth Bruder acquired 488 shares of Canadian National Railway stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of C$177.40 per share, for a total transaction of C$86,571.20. 1.67% of the stock is owned by insiders.

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.