Research Analysts Offer Predictions for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Atb Cap Markets reduced their FY2024 EPS estimates for shares of Canadian National Railway in a research note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst C. Murray now expects that the transportation company will post earnings of $5.29 per share for the year, down from their previous estimate of $5.57. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.49 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.68 EPS, Q1 2026 earnings at $1.53 EPS, Q2 2026 earnings at $1.64 EPS, Q3 2026 earnings at $1.61 EPS and FY2026 earnings at $6.62 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS.

CNI has been the subject of a number of other research reports. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research report on Monday, October 7th. Stephens reaffirmed an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday. Evercore ISI dropped their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus upped their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Stock Performance

NYSE CNI opened at $110.96 on Thursday. The company has a 50 day moving average of $115.97 and a 200-day moving average of $119.66. Canadian National Railway has a 1-year low of $103.96 and a 1-year 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 market cap of $69.88 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.50 and a beta of 0.88.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors have recently made changes to their positions in CNI. Manning & Napier Advisors LLC acquired a new position in Canadian National Railway during the second quarter worth about $134,096,000. Koshinski Asset Management Inc. acquired a new stake in Canadian National Railway during the 1st quarter worth about $627,000. Mediolanum International Funds Ltd acquired a new stake in Canadian National Railway during the 1st quarter worth about $4,451,000. Sterling Investment Management LLC lifted its stake in shares of Canadian National Railway by 17.2% in the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after purchasing an additional 5,329 shares during the period. Finally, Sumitomo Life Insurance Co. acquired a new position in Canadian National Railway in the second quarter valued at approximately $1,321,000. 80.74% of the stock is currently owned by institutional investors.

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.