Canadian National Railway (TSE:CNR) to Post Q2 2024 Earnings of $1.86 Per Share, Desjardins Forecasts

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Stock analysts at Desjardins decreased their Q2 2024 earnings 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 forecasts that the company will earn $1.86 per share for the quarter, down from their previous estimate of $1.88. Desjardins has a “Buy” rating and a $195.00 price target on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $2.01 EPS, Q4 2024 earnings at $2.43 EPS, FY2026 earnings at $9.94 EPS and FY2028 earnings at $11.96 EPS.

CNR has been the topic of several other reports. Veritas Investment Research lowered shares of Canadian National Railway from a “buy” rating to a “reduce” rating and set a C$168.00 target price on the stock. in a report on Wednesday, January 24th. National Bankshares boosted their target price on shares of Canadian National Railway from C$172.00 to C$190.00 in a report on Thursday, April 4th. Raymond James boosted their target price on shares of Canadian National Railway from C$185.00 to C$190.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada boosted their target price on shares of Canadian National Railway from C$171.00 to C$172.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Sanford C. Bernstein boosted their target price on shares of Canadian National Railway from C$191.00 to C$195.00 and gave the company an “outperform” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$184.50.

Canadian National Railway Stock Performance

TSE:CNR opened at C$170.40 on Thursday. 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 firm has a market capitalization of C$109.10 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.06 and a beta of 0.65. The company’s 50-day moving average is C$175.98 and its two-hundred day moving average is C$165.64. 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 announced its quarterly earnings data on Tuesday, January 23rd. The company reported C$2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.96 by C$0.06. The company had revenue of C$4.47 billion during the quarter, compared to analysts’ expectations of C$4.38 billion. Canadian National Railway had a net margin of 33.43% and a return on equity of 27.11%.

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.845 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.38 dividend on an annualized basis and a yield of 1.98%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.62%.

Insiders Place Their Bets

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