Brokers Offer Predictions for Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Desjardins lowered their Q2 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings of $1.36 per share for the quarter, down from their previous forecast of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.47 EPS and Q4 2024 earnings at $1.78 EPS.

CNI has been the topic of several other reports. Stifel Nicolaus lifted their price target on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Susquehanna Bancshares lifted their price target on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Stephens reiterated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a research report on Wednesday. Wells Fargo & Company lifted their target price on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Barclays lifted their target price on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $148.60.

Canadian National Railway Stock Up 1.6 %

Shares of CNI stock opened at $124.78 on Thursday. 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 $79.70 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The business’s fifty day moving average is $129.58 and its 200-day moving average is $122.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results 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 return on equity of 23.17% and a net margin of 32.81%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.00%. Canadian National Railway’s dividend payout ratio is 40.03%.

Institutional Trading of Canadian National Railway

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Canadian National Railway by 1.8% during 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 purchasing an additional 387,975 shares during the last quarter. Wellington Management Group LLP boosted its position in Canadian National Railway by 9.6% during the fourth 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 during the last quarter. FIL Ltd boosted its position in Canadian National Railway by 7.2% during the fourth 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Canadian National Railway by 5.0% during the third 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 during the last quarter. Finally, TD Asset Management Inc boosted its position in Canadian National Railway by 2.8% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.