Canadian National Railway to Post Q3 2024 Earnings of $1.52 Per Share, Raymond James Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Raymond James cut their Q3 2024 earnings estimates for Canadian National Railway in a research report issued on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings of $1.52 per share for the quarter, down from their prior forecast of $1.54. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.64 EPS, FY2024 earnings at $5.87 EPS and FY2025 earnings at $6.02 EPS.

CNI has been the topic of a number of other research reports. Citigroup lifted their price target on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Susquehanna Bancshares lifted their price target on shares of Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 price target on the stock. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Finally, TD Securities lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $147.86.

Canadian National Railway Trading Down 5.1 %

NYSE:CNI opened at $122.80 on Wednesday. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The firm has a market cap of $78.43 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 2.25 and a beta of 0.88. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $129.68 and its 200-day moving average is $122.20.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently bought and sold shares of the business. Avantax Advisory Services Inc. increased its holdings in Canadian National Railway by 33.5% in the 3rd quarter. Avantax Advisory Services Inc. now owns 11,998 shares of the transportation company’s stock valued at $1,300,000 after buying an additional 3,011 shares during the period. Spire Wealth Management increased its holdings in Canadian National Railway by 5.0% in the 3rd quarter. Spire Wealth Management now owns 4,602 shares of the transportation company’s stock valued at $498,000 after buying an additional 219 shares during the period. YCG LLC increased its holdings in Canadian National Railway by 6.0% in the 4th quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock valued at $31,418,000 after buying an additional 14,249 shares during the period. Manning & Napier Group LLC increased its holdings in Canadian National Railway by 7.5% in the 4th quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company’s stock valued at $84,171,000 after buying an additional 46,517 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in Canadian National Railway in the 3rd quarter valued at $1,266,000. Institutional investors own 80.74% of the company’s stock.

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.