Brokers Offer Predictions for Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Atb Cap Markets upped their Q2 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday, April 23rd. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will post earnings of $1.46 per share for the quarter, up from their previous forecast of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.51 EPS, Q4 2024 earnings at $1.63 EPS, FY2024 earnings at $5.86 EPS, Q1 2025 earnings at $1.36 EPS, Q2 2025 earnings at $1.65 EPS and Q3 2025 earnings at $1.72 EPS.

Several other equities analysts have also weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Barclays boosted their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Susquehanna Bancshares upped their target price on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Finally, Citigroup upped their target price on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $148.60.

Canadian National Railway Stock Performance

NYSE CNI opened at $124.78 on Friday. The firm has a market capitalization of $79.70 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.14 and a beta of 0.88. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47. The business’s 50-day simple moving average is $129.58 and its 200-day simple moving average is $122.22.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds have recently bought and sold shares of the business. PDS Planning Inc lifted its stake in Canadian National Railway by 2.0% in the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock worth $574,000 after acquiring an additional 89 shares in the last quarter. Tacita Capital Inc lifted its stake in Canadian National Railway by 0.4% in the 3rd quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock worth $2,972,000 after acquiring an additional 97 shares in the last quarter. Bfsg LLC lifted its stake in Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after acquiring an additional 105 shares in the last quarter. Signaturefd LLC lifted its stake in Canadian National Railway by 1.0% in the 3rd quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after acquiring an additional 110 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its stake in Canadian National Railway by 1.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock worth $1,137,000 after acquiring an additional 111 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 39.71%.

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.