Canadian National Railway to Post Q2 2024 Earnings of $1.46 Per Share, Raymond James Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Raymond James boosted their Q2 2024 earnings estimates for shares of Canadian National Railway in a note issued to investors on Wednesday, April 24th. Raymond James analyst S. Hansen now anticipates that the transportation company will post earnings of $1.46 per share for the quarter, up from their previous estimate of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.92 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $5.89 EPS and FY2025 earnings at $6.77 EPS.

A number of other research firms have also recently weighed in on CNI. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. 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. Stifel Nicolaus lifted their target price on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Wells Fargo & Company upped their target price on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Finally, Citigroup lifted their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $125.23 on Friday. The stock’s 50-day simple moving average is $129.49 and its 200-day simple moving average is $122.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The firm has a market capitalization of $79.98 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.18 and a beta of 0.88. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Canadian National Railway Cuts Dividend

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

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bfsg LLC lifted its stake in shares of Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares during the period. GAMMA Investing LLC lifted its position in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the period. JFS Wealth Advisors LLC lifted its position in shares of Canadian National Railway by 241.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 229 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Canadian National Railway by 121.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after acquiring 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 worth approximately $41,000. 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.