FY2024 Earnings Forecast for Canadian National Railway Issued By National Bank Financial (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Research analysts at National Bank Financial lowered their FY2024 earnings per share estimates for Canadian National Railway in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings of $8.03 per share for the year, down from their previous estimate of $8.05. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.37 EPS.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Canadian National Railway from C$171.00 to C$172.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Desjardins increased their target price on Canadian National Railway from C$189.00 to C$195.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Canadian National Railway from C$158.00 to C$164.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. CIBC raised their price objective on Canadian National Railway from C$177.00 to C$183.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Finally, Raymond James increased their target price on Canadian National Railway from C$185.00 to C$190.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$184.50.

Canadian National Railway Price Performance

TSE:CNR opened at C$171.25 on Friday. The firm has a market capitalization of C$109.64 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 2.06 and a beta of 0.65. Canadian National Railway has a 52-week low of C$143.13 and a 52-week high of C$181.34. The stock has a fifty day moving average of C$175.91 and a 200 day moving average of C$165.81. The company has a debt-to-equity ratio of 93.89, a quick ratio of 0.58 and a current ratio of 0.61.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported C$2.02 earnings per share 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 return on equity of 27.11% and a net margin of 33.43%.

Insider Buying and Selling at Canadian National Railway

In other news, Director Shauneen Elizabeth Bruder bought 6,000 shares of Canadian National Railway stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of C$168.44 per share, with a total value of C$1,010,640.00. In other Canadian National Railway news, Director Shauneen Elizabeth Bruder bought 6,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of C$168.44 per share, for a total transaction of C$1,010,640.00. Also, Senior Officer Derek Michael Taylor sold 2,610 shares of the business’s 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. Insiders own 1.67% of the company’s stock.

Canadian National Railway Dividend Announcement

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 issued a $0.845 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.38 dividend on an annualized basis and a yield of 1.97%. Canadian National Railway’s dividend payout ratio is currently 39.62%.

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.