Raymond James Comments on Canadian National Railway’s Q1 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities researchers at Raymond James reduced their Q1 2024 earnings per share estimates for shares of Canadian National Railway in a note issued to investors on Monday, April 22nd. Raymond James analyst S. Hansen now expects that the company will post earnings per share of $1.73 for the quarter, down from their previous forecast of $1.74. 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 Q2 2024 earnings at $1.99 EPS and Q4 2024 earnings at $2.25 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last issued its quarterly earnings data 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. The firm had revenue of C$4.47 billion for the quarter, compared to analyst estimates of C$4.38 billion. Canadian National Railway had a return on equity of 27.11% and a net margin of 33.43%.

CNR has been the topic of a number of other reports. CIBC lifted their price objective on Canadian National Railway from C$177.00 to C$183.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. TD Securities lifted their price objective on Canadian National Railway from C$180.00 to C$185.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Royal Bank of Canada lifted their price objective on Canadian National Railway from C$164.00 to C$171.00 in a research report on Monday, April 1st. National Bankshares lifted their price target on Canadian National Railway from C$172.00 to C$190.00 in a research report on Thursday, April 4th. Finally, BMO Capital Markets lifted their price target on Canadian National Railway from C$185.00 to C$195.00 in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$183.36.

Canadian National Railway Price Performance

Shares of CNR stock opened at C$176.79 on Tuesday. The firm has a market cap of C$113.19 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.06 and a beta of 0.65. Canadian National Railway has a fifty-two week low of C$143.13 and a fifty-two week high of C$181.34. The business’s 50 day moving average price is C$176.20 and its 200-day moving average price is C$165.58. The company has a debt-to-equity ratio of 93.89, a quick ratio of 0.58 and a current ratio of 0.61.

Insider Buying and Selling at Canadian National Railway

In related news, Director Shauneen Elizabeth Bruder acquired 6,000 shares of the 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. In other news, 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. Also, Director Shauneen Elizabeth Bruder purchased 6,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of C$168.44 per share, with a total value of C$1,010,640.00. 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.