Canadian National Railway (NYSE:CNI) Forecasted to Earn Q3 2024 Earnings of $1.42 Per Share

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for Canadian National Railway in a research report issued to clients and investors on Thursday, August 29th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $1.42 per share for the quarter, down from their prior forecast of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.63 per share. Zacks Research also issued estimates for Canadian National Railway’s Q2 2025 earnings at $1.53 EPS and Q4 2025 earnings at $1.85 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 EPS.

Other analysts have also issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Susquehanna reduced their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Finally, Barclays reduced their price target on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $138.35.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $117.82 on Monday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $116.31 and a 200-day moving average price of $123.43. The firm has a market capitalization of $74.51 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.40 and a beta of 0.89.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Canadian National Railway by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock worth $2,813,534,000 after acquiring an additional 387,975 shares during the last quarter. Wellington Management Group LLP grew its position in Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. FIL Ltd increased its stake in Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Canadian National Railway by 2.8% in the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after buying an additional 314,600 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted 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 worth $1,106,361,000 after buying an additional 674,536 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.07%.

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.