Canadian National Railway Forecasted to Earn Q3 2024 Earnings of $1.33 Per Share (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Atb Cap Markets cut their Q3 2024 earnings per share (EPS) estimates for Canadian National Railway in a research note issued on Wednesday, September 11th. Atb Cap Markets analyst C. Murray now expects that the transportation company will earn $1.33 per share for the quarter, down from their previous estimate of $1.44. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.58 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s FY2024 earnings at $5.60 EPS, Q2 2025 earnings at $1.48 EPS, Q3 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.81 EPS and FY2025 earnings at $6.18 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). The firm had revenue of $4.33 billion during 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%. Canadian National Railway’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 EPS.

Several other research firms also recently issued reports on CNI. Wells Fargo & Company dropped their target price on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Susquehanna dropped their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Bank of America dropped their target price on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $137.35.

Canadian National Railway Trading Down 0.5 %

NYSE:CNI opened at $118.77 on Friday. The company has a market cap of $74.79 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.54 and a beta of 0.88. The stock’s fifty day moving average price is $116.19 and its two-hundred day moving average price is $122.55. 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 0.93, a current ratio of 0.63 and a quick ratio of 0.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNI. Principal Securities Inc. bought a new position in shares of Canadian National Railway during the fourth quarter valued at about $256,000. Dimensional Fund Advisors LP grew its stake in shares of Canadian National Railway by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,236 shares of the transportation company’s stock valued at $126,035,000 after buying an additional 42,545 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Canadian National Railway by 2.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,371 shares of the transportation company’s stock valued at $1,554,000 after buying an additional 271 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Canadian National Railway by 10.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 13,222 shares of the transportation company’s stock valued at $1,661,000 after buying an additional 1,224 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Canadian National Railway by 9.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 105,697 shares of the transportation company’s stock valued at $13,279,000 after buying an additional 8,971 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Cuts Dividend

The company 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 $0.614 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.07%. Canadian National Railway’s dividend payout ratio is presently 39.08%.

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.