Canadian National Railway to Post Q2 2024 Earnings of $1.46 Per Share, Raymond James Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at Raymond James upped their Q2 2024 EPS estimates for Canadian National Railway in a report released on Wednesday, April 24th. Raymond James analyst S. Hansen now anticipates that the transportation company will earn $1.46 per share for the quarter, up from their previous estimate of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $5.89 EPS and FY2025 earnings at $6.77 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion.

CNI has been the topic of a number of other research reports. Stephens restated an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a report on Wednesday. Barclays upped their target price on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Susquehanna Bancshares upped their target price on shares of Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Eighteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $125.30 on Friday. The firm’s 50-day moving average price is $129.49 and its 200-day moving average price is $122.34. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The firm has a market capitalization of $80.03 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.14 and a beta of 0.88. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.84.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Avantax Advisory Services Inc. boosted 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 worth $1,300,000 after buying an additional 3,011 shares during the period. Spire Wealth Management boosted 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 worth $498,000 after buying an additional 219 shares during the period. YCG LLC boosted 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 worth $31,418,000 after buying an additional 14,249 shares during the period. Manning & Napier Group LLC boosted 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 worth $84,171,000 after buying an additional 46,517 shares during the period. Finally, Graham Capital Management L.P. bought a new position in Canadian National Railway in the 3rd quarter worth approximately $1,266,000. 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.