Research Analysts Offer Predictions for Canadian National Railway’s Q2 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities researchers at National Bank Financial dropped their Q2 2024 EPS estimates for Canadian National Railway in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst C. Doerksen now expects that the company will post earnings of $1.87 per share for the quarter, down from their prior forecast of $1.88. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q3 2024 earnings at $2.07 EPS and FY2025 earnings at $9.06 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported C$2.02 earnings per share for the quarter, beating 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 analysts’ expectations of C$4.38 billion. Canadian National Railway had a net margin of 33.43% and a return on equity of 27.11%.

A number of other research analysts have also recently commented on CNR. Veritas Investment Research cut shares of Canadian National Railway from a “buy” rating to a “reduce” rating and set a C$168.00 target price on the stock. in a research report on Wednesday, January 24th. Desjardins boosted their target price on shares of Canadian National Railway from C$189.00 to C$195.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays boosted their target price on shares of Canadian National Railway from C$170.00 to C$175.00 in a research report on Thursday, April 4th. Raymond James boosted their target price on shares of Canadian National Railway from C$185.00 to C$190.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Finally, TD Securities upped their price target on shares of Canadian National Railway from C$185.00 to C$190.00 and gave the company a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$184.50.

Canadian National Railway Trading Up 0.5 %

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

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.845 per share. The ex-dividend date is Friday, June 7th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 1.97%. Canadian National Railway’s dividend payout ratio (DPR) is 39.62%.

Insiders Place Their Bets

In other news, Director Shauneen Elizabeth Bruder purchased 6,000 shares of the stock in a transaction dated 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 related news, Senior Officer Derek Michael Taylor sold 2,610 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$131.26, for a total value of C$342,577.38. Also, Director Shauneen Elizabeth Bruder bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought 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 corporate insiders.

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.