Brokers Offer Predictions for Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Desjardins dropped their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings per share of $1.36 for the quarter, down from their previous forecast of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.47 EPS and Q4 2024 earnings at $1.78 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion.

Several other brokerages also recently commented on CNI. Stifel Nicolaus raised their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Susquehanna Bancshares raised their price objective on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research note on Monday, January 8th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Finally, Barclays raised their price objective on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Eighteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $148.60.

Canadian National Railway Stock Up 1.6 %

NYSE:CNI opened at $124.78 on Thursday. The firm has a market capitalization of $79.70 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.26 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. 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 stock’s fifty day simple moving average is $129.58 and its 200-day simple moving average is $122.22.

Institutional Trading of Canadian National Railway

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bfsg LLC increased its position in shares of Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 105 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Canadian National Railway by 766.7% in the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Canadian National Railway by 241.1% in the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Canadian National Railway by 121.0% in the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 202 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in Canadian National Railway during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 40.03%.

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.