Raymond James Comments on Canadian National Railway’s Q2 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities researchers at Raymond James raised their Q2 2024 earnings per share estimates for Canadian National Railway in a report released on Wednesday, April 24th. Raymond James analyst S. Hansen now forecasts that the company will post earnings per share of $2.00 for the quarter, up from their prior estimate of $1.99. Raymond James has a “Outperform” rating and a $190.00 price target on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.24 EPS and FY2025 earnings at $9.25 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last released its earnings results on Tuesday, January 23rd. The company reported C$2.02 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.96 by C$0.06. Canadian National Railway had a net margin of 33.43% and a return on equity of 27.11%. The firm had revenue of C$4.47 billion for the quarter, compared to analyst estimates of C$4.38 billion.

Several other equities analysts have also commented on the company. Barclays increased their target price on Canadian National Railway from C$170.00 to C$175.00 in a report on Thursday, April 4th. Scotiabank increased their price target on shares of Canadian National Railway from C$173.00 to C$184.00 and gave the company a “sector perform” rating in a research note on Monday, March 25th. TD Securities boosted their price objective on shares of Canadian National Railway from C$185.00 to C$190.00 and gave the stock a “hold” rating in a research report on Wednesday. ATB Capital raised their price objective on Canadian National Railway from C$165.00 to C$180.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada raised 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of C$184.50.

Canadian National Railway Trading Up 0.5 %

TSE CNR opened at C$171.25 on Friday. Canadian National Railway has a 52 week low of C$143.13 and a 52 week high of C$181.34. The firm has a 50 day moving average of C$175.91 and a two-hundred day moving average of C$165.81. The stock has a market capitalization of C$109.64 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 93.89.

Insider Buying and Selling at Canadian National Railway

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

Canadian National Railway Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.845 dividend. This represents a $3.38 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s payout ratio is 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.