FY2024 Earnings Estimate for CNI Issued By Raymond James

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued to clients and investors on Wednesday, October 23rd. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings per share of $5.31 for the year, down from their previous forecast of $5.44. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.50 EPS and FY2025 earnings at $5.98 EPS.

Several other brokerages have also recently commented on CNI. Evercore ISI reduced their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research report on Wednesday. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Susquehanna reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday. Finally, Barclays increased their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $125.18.

Canadian National Railway Stock Up 0.1 %

Shares of Canadian National Railway stock opened at $110.96 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The business has a 50-day moving average of $115.97 and a 200-day moving average of $119.66. The company has a market capitalization of $69.88 billion, a PE ratio of 17.83, a P/E/G ratio of 2.50 and a beta of 0.88.

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 for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share.

Canadian National Railway Cuts Dividend

The company 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 of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. Canadian National Railway’s payout ratio is currently 39.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. 1832 Asset Management L.P. increased its stake in shares of Canadian National Railway by 7.8% during the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after acquiring an additional 674,536 shares during the period. Capital International Investors increased its stake in shares of Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares during the period. JARISLOWSKY FRASER Ltd increased its stake in shares of Canadian National Railway by 1.2% during the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after acquiring an additional 99,716 shares during the period. Fiera Capital Corp increased its stake in shares of Canadian National Railway by 13.3% during the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after acquiring an additional 638,817 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Canadian National Railway by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after acquiring an additional 120,453 shares during the period. 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.