Research Analysts Issue Forecasts for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – National Bank Financial reduced their FY2024 EPS estimates for shares of Canadian National Railway in a note issued to investors on Tuesday, December 3rd. National Bank Financial analyst C. Doerksen now expects that the transportation company will earn $5.21 per share for the year, down from their prior estimate of $5.37. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.33 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.46 EPS, Q1 2025 earnings at $1.26 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.65 EPS, FY2025 earnings at $5.74 EPS and FY2026 earnings at $6.43 EPS.

Other equities analysts also recently issued research reports about the stock. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price target for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $125.86.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $109.30 on Thursday. The company has a 50 day moving average of $111.83 and a 200-day moving average of $116.24. Canadian National Railway has a 1-year low of $105.28 and a 1-year high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market cap of $68.83 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.24%. Canadian National Railway’s dividend payout ratio is presently 39.90%.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors have recently made changes to their positions in the business. Grove Bank & Trust boosted its position in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after buying an additional 97 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Canadian National Railway by 1.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after purchasing an additional 102 shares during the period. Blue Trust Inc. lifted its position in shares of Canadian National Railway by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after purchasing an additional 105 shares during the period. Doheny Asset Management CA lifted its position in shares of Canadian National Railway by 3.8% in the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock worth $354,000 after purchasing an additional 110 shares during the period. Finally, Marshall Financial Group LLC lifted its position in shares of Canadian National Railway by 1.4% in the 2nd quarter. Marshall Financial Group LLC now owns 8,209 shares of the transportation company’s stock worth $970,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors 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.