National Bank Financial Comments on Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at National Bank Financial dropped their Q2 2024 earnings per share (EPS) estimates for Canadian National Railway in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings per share of $1.37 for the quarter, down from their prior estimate of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2025 earnings at $6.63 EPS.

A number of other brokerages have also issued reports on CNI. Jefferies Financial Group assumed coverage on Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Stephens reissued an “equal weight” rating and set a $140.00 target price on shares of Canadian National Railway in a report on Wednesday. Susquehanna Bancshares boosted their price target on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research note on Monday, January 8th. CIBC downgraded Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Finally, Citigroup upped their target price on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Eighteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $147.86.

Canadian National Railway Price Performance

Shares of CNI opened at $122.80 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The stock has a market cap of $78.43 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The stock’s 50-day moving average price is $129.68 and its two-hundred day moving average price is $122.20.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Canadian National Railway by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after buying an additional 387,975 shares during the period. Wellington Management Group LLP boosted its position 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 valued at $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. FIL Ltd boosted its position in shares of Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Canadian National Railway by 5.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Canadian National Railway by 2.8% during the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after purchasing an additional 314,600 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.