Research Analysts Set Expectations for CNI Q3 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at Raymond James dropped their Q3 2024 earnings per share estimates for shares of Canadian National Railway in a research report issued to clients and investors on Wednesday, October 16th. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings per share of $1.26 for the quarter, down from their previous estimate of $1.30. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.54 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.55 EPS, FY2024 earnings at $5.44 EPS and FY2025 earnings at $6.14 EPS.

Several other brokerages also recently weighed in on CNI. Stifel Nicolaus reduced their price objective on shares of Canadian National Railway from $133.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, October 11th. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Susquehanna dropped their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Barclays boosted their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Sanford C. Bernstein dropped their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and an average target price of $126.02.

Canadian National Railway Stock Performance

Shares of CNI opened at $113.62 on Friday. The company has a market capitalization of $71.85 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $115.94 and a 200 day moving average price of $120.16.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the firm earned $1.31 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 39.07%.

Institutional Trading of Canadian National Railway

Institutional investors have recently modified their holdings of the business. GQG Partners LLC lifted its holdings in Canadian National Railway by 0.8% in the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after acquiring an additional 93 shares during the period. Choreo LLC boosted its holdings in Canadian National Railway by 1.5% during the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after buying an additional 97 shares in the last quarter. Grove Bank & Trust boosted its holdings in Canadian National Railway by 15.3% during the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after buying an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Canadian National Railway by 2.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after buying an additional 100 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after buying an additional 102 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.