Canadian National Railway to Post Q3 2024 Earnings of $1.52 Per Share, Raymond James Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James lowered their Q3 2024 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.52 per share for the quarter, down from their previous forecast of $1.54. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.64 EPS, FY2024 earnings at $5.87 EPS and FY2025 earnings at $6.02 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 (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion.

CNI has been the subject of several other research reports. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Citigroup upped their price objective on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Barclays upped their price objective on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Susquehanna upped their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price target for the company. Eighteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $147.86.

Canadian National Railway Stock Down 5.1 %

Shares of NYSE CNI opened at $122.80 on Wednesday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a market cap of $78.43 billion, a PE ratio of 19.37, a P/E/G ratio of 2.25 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $129.68 and a 200 day moving average of $122.20.

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC raised its holdings in shares of Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Canadian National Railway by 241.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Canadian National Railway by 121.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 202 shares in the last quarter. Finally, Rational Advisors LLC acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at $41,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.