Raymond James Comments on Canadian National Railway’s Q3 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James decreased their Q3 2024 EPS estimates for Canadian National Railway in a research note issued on Wednesday, September 11th. Raymond James analyst S. Hansen now anticipates that the transportation company will earn $1.30 per share for the quarter, down from their prior forecast of $1.47. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.60 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $5.55 EPS and FY2025 earnings at $6.36 EPS.

Several other equities analysts have also recently issued reports on CNI. Barclays lowered their price objective 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. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $146.25 to $130.67 in a report on Monday, July 8th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.35.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $118.77 on Thursday. The firm has a market capitalization of $74.79 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.38 and a beta of 0.88. The company’s fifty day moving average price is $116.19 and its two-hundred day moving average price is $122.61. 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 12 month low of $103.96 and a 12 month high of $134.02.

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). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the previous year, the business posted $1.31 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.07%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.08%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of Canadian National Railway by 61.1% during the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after purchasing an additional 61,498 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Canadian National Railway by 1.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after acquiring an additional 17,083 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Canadian National Railway in the second quarter worth $134,096,000. Koshinski Asset Management Inc. purchased a new position in Canadian National Railway during the 1st quarter valued at about $627,000. Finally, Virtu Financial LLC acquired a new stake in Canadian National Railway during the fourth quarter valued at $816,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.