Q2 2024 Earnings Forecast for Canadian National Railway (NYSE:CNI) Issued By National Bank Financial

Canadian National Railway (NYSE:CNI) (TSE:CNR) – National Bank Financial boosted their Q2 2024 EPS estimates for shares of Canadian National Railway in a research report issued on Wednesday, June 26th. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings per share of $1.41 for the quarter, up from their previous estimate of $1.37. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.90 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2024 earnings at $5.88 EPS.

Other analysts have also issued research reports about the company. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Barclays upped their target price on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $148.95.

Canadian National Railway Trading Down 1.2 %

Shares of CNI opened at $116.69 on Monday. The firm has a market capitalization of $74.04 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a 50-day moving average of $123.88 and a 200 day moving average of $126.25.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.14%. Canadian National Railway’s payout ratio is currently 39.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CNI. Bfsg LLC grew its holdings in Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC boosted its holdings in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter valued at about $46,000. Rational Advisors LLC purchased a new position in shares of Canadian National Railway in the 1st quarter valued at about $49,000. Finally, Knuff & Co LLC acquired a new position in Canadian National Railway in the 4th quarter worth about $50,000. 80.74% of the stock is owned by institutional investors and hedge funds.

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.