Raymond James Comments on Canadian National Railway’s Q3 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Research analysts at Raymond James dropped their Q3 2024 earnings estimates for shares of Canadian National Railway in a research report issued on Wednesday, September 11th. Raymond James analyst S. Hansen now anticipates that the company will earn $1.76 per share for the quarter, down from their previous estimate of $2.02. Raymond James has a “Outperform” rating and a $180.00 price objective on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.87 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $7.50 EPS and FY2025 earnings at $8.60 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last issued its earnings results on Tuesday, July 23rd. The company reported C$1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.93 by C($0.09). Canadian National Railway had a return on equity of 27.41% and a net margin of 32.02%. The company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.40 billion.

A number of other research firms have also recently commented on CNR. Wells Fargo & Company upgraded Canadian National Railway to a “hold” rating in a research report on Wednesday, July 24th. National Bankshares cut their price target on Canadian National Railway from C$190.00 to C$186.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their price objective on shares of Canadian National Railway from C$169.00 to C$160.00 and set a “sector perform” rating on the stock in a research note on Wednesday. National Bank Financial upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Canadian National Railway from C$180.00 to C$176.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$174.93.

Canadian National Railway Price Performance

TSE CNR opened at C$162.20 on Thursday. The stock has a market capitalization of C$102.10 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.06 and a beta of 0.65. Canadian National Railway has a 1-year low of C$143.13 and a 1-year high of C$181.34. The company has a debt-to-equity ratio of 107.62, a current ratio of 0.63 and a quick ratio of 0.58. The business’s fifty day moving average price is C$158.83 and its 200-day moving average price is C$167.52.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.845 dividend. This represents a $3.38 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 40.14%.

Insiders Place Their Bets

In other Canadian National Railway news, Director Josephine Ann Marie Depass Olsovsky acquired 2,610 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of C$115.29 per share, with a total value of C$300,906.90. In related news, Director Josephine Ann Marie Depass Olsovsky bought 2,610 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of C$115.29 per share, for a total transaction of C$300,906.90. Also, Director Shauneen Elizabeth Bruder purchased 544 shares of Canadian National Railway stock in a transaction on Tuesday, June 25th. The stock was bought at an average price of C$160.21 per share, for a total transaction of C$87,156.42. 1.69% of the stock is currently owned by company insiders.

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.