Desjardins Analysts Cut Earnings Estimates for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Desjardins dropped their Q3 2024 EPS estimates for Canadian National Railway in a report released on Wednesday, September 11th. Desjardins analyst B. Poirier now forecasts that the transportation company will post earnings of $1.27 per share for the quarter, down from their previous estimate of $1.42. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.60 per share. Desjardins also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.56 EPS, FY2024 earnings at $5.42 EPS, FY2025 earnings at $6.16 EPS, FY2026 earnings at $6.79 EPS, FY2027 earnings at $7.41 EPS and FY2028 earnings at $8.15 EPS.

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

A number of other analysts have also commented on the stock. Stifel Nicolaus reduced their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Wells Fargo & Company decreased their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Barclays cut 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 report on Wednesday, July 24th. Finally, Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $146.25 to $130.67 in a research note on Monday, July 8th. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $137.35.

Canadian National Railway Stock Down 0.5 %

Shares of Canadian National Railway stock opened at $118.77 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The company has a 50-day moving average of $116.19 and a 200 day moving average of $122.61. The firm has a market cap of $74.79 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.38 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.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.08%.

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds have recently made changes to their positions in the company. Principal Securities Inc. bought a new position in shares of Canadian National Railway in the 4th quarter valued at about $256,000. Dimensional Fund Advisors LP raised its position in shares of Canadian National Railway by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,003,236 shares of the transportation company’s stock valued at $126,035,000 after acquiring an additional 42,545 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Canadian National Railway by 2.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,371 shares of the transportation company’s stock valued at $1,554,000 after acquiring an additional 271 shares during the period. Avantax Advisory Services Inc. raised its holdings in Canadian National Railway by 10.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,222 shares of the transportation company’s stock worth $1,661,000 after buying an additional 1,224 shares during the period. Finally, Vise Technologies Inc. raised its holdings in Canadian National Railway by 27.9% during the 4th quarter. Vise Technologies Inc. now owns 3,201 shares of the transportation company’s stock worth $402,000 after buying an additional 698 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.