National Bank Financial Predicts CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at National Bank Financial dropped their FY2024 earnings estimates for Canadian National Railway in a report released on Monday, January 13th. National Bank Financial analyst C. Doerksen now expects that the transportation company will post earnings per share of $4.97 for the year, down from their previous forecast of $5.21. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.31 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.32 EPS, Q1 2025 earnings at $1.21 EPS, Q2 2025 earnings at $1.32 EPS, Q3 2025 earnings at $1.37 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $5.47 EPS and FY2026 earnings at $6.13 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) 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 business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group cut their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Susquehanna dropped their price objective on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price target on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America decreased their price objective on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.77.

Canadian National Railway Stock Up 0.4 %

CNI opened at $100.73 on Wednesday. Canadian National Railway has a fifty-two week low of $98.96 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm’s fifty day moving average price is $106.08 and its two-hundred day moving average price is $112.17. The company has a market capitalization of $63.34 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.43 and a beta of 0.91.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s payout ratio is presently 38.14%.

Institutional Investors Weigh In On Canadian National Railway

Several large investors have recently made changes to their positions in CNI. Fortitude Family Office LLC raised its stake in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 229 shares during the period. Coastline Trust Co acquired a new stake in Canadian National Railway in the third quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Canadian National Railway in the third quarter valued at about $41,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Canadian National Railway in the third quarter valued at about $56,000. 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.