Q2 2024 EPS Estimates for Canadian National Railway (NYSE:CNI) Lifted by Analyst

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Atb Cap Markets raised their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst C. Murray now forecasts that the transportation company will post earnings of $1.46 per share for the quarter, up from their previous forecast of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.51 EPS, Q4 2024 earnings at $1.63 EPS, FY2024 earnings at $5.86 EPS, Q1 2025 earnings at $1.36 EPS, Q2 2025 earnings at $1.65 EPS and Q3 2025 earnings at $1.72 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%.

A number of other research firms have also recently commented on CNI. CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Stifel Nicolaus lifted their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Susquehanna Bancshares lifted their price objective on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research report on Monday, January 8th. Finally, Jefferies Financial Group started coverage on Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 price objective for the company. Eighteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Trading Up 0.4 %

NYSE:CNI opened at $125.30 on Friday. The company has a market capitalization of $80.03 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. The company has a quick ratio of 0.47, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock has a fifty day simple moving average of $129.49 and a 200-day simple moving average of $122.34.

Institutional Trading of Canadian National Railway

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Canadian National Railway during the 4th quarter worth about $769,556,000. Canoe Financial LP grew its holdings in shares of Canadian National Railway by 8,401.1% during the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after purchasing an additional 3,960,049 shares during the period. Capital International Investors grew its holdings in shares of Canadian National Railway by 63.2% during the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after purchasing an additional 2,951,506 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Canadian National Railway during the 3rd quarter worth about $273,243,000. Finally, Wellington Management Group LLP grew its holdings in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is 39.87%.

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.