Atb Cap Markets Has Negative Outlook for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research report issued on Sunday, January 19th. Atb Cap Markets analyst C. Murray now expects that the transportation company will post earnings of $5.00 per share for the year, down from their prior forecast of $5.29. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.18 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.35 EPS, Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $5.74 EPS, Q1 2026 earnings at $1.48 EPS, Q3 2026 earnings at $1.59 EPS, Q4 2026 earnings at $1.70 EPS and FY2026 earnings at $6.41 EPS.

Several other research firms also recently commented on CNI. Susquehanna decreased their price objective on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, January 10th. Stifel Nicolaus upgraded Canadian National Railway from a “hold” rating to a “buy” rating and lowered their price objective for the company from $132.00 to $120.00 in a research report on Thursday, January 16th. Wells Fargo & Company cut their target price on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $174.00 price objective on shares of Canadian National Railway in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.02.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $103.70 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a market cap of $65.21 billion, a PE ratio of 16.62, a PEG ratio of 2.29 and a beta of 0.91. The company’s fifty day moving average is $105.23 and its 200 day moving average is $111.70. Canadian National Railway has a 52 week low of $98.96 and a 52 week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $1.26 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Canadian National Railway by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,102,997 shares of the transportation company’s stock valued at $130,297,000 after purchasing an additional 48,984 shares in the last quarter. Renaissance Technologies LLC bought a new position in Canadian National Railway in the 2nd quarter worth about $1,725,000. Benjamin F. Edwards & Company Inc. boosted its stake in Canadian National Railway by 6.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,021 shares of the transportation company’s stock worth $475,000 after purchasing an additional 247 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Canadian National Railway by 15.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 131 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Canadian National Railway during the 2nd quarter valued at about $3,537,000. 80.74% of the stock is currently owned by 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.