Q3 2024 Earnings Forecast for Canadian National Railway Issued By National Bank Financial (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at National Bank Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research report issued on Wednesday, September 11th. National Bank Financial analyst C. Doerksen now expects that the transportation company will earn $1.27 per share for the quarter, down from their prior forecast of $1.39. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.60 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.65 EPS, FY2024 earnings at $5.56 EPS and FY2025 earnings at $6.39 EPS.

A number of other analysts also recently commented on the company. Barclays dropped their price objective on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Stephens lowered their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Sanford C. Bernstein downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $146.25 to $130.67 in a report on Monday, July 8th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Finally, Stifel Nicolaus lowered their price target on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Sixteen equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $137.35.

Canadian National Railway Trading Down 0.5 %

CNI stock opened at $118.77 on Friday. The company 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. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $116.19 and a 200-day simple moving average of $122.61. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02.

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

Hedge Funds Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Canadian National Railway by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock worth $2,813,534,000 after purchasing an additional 387,975 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Canadian National Railway by 9.6% during the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. FIL Ltd lifted its position in shares of Canadian National Railway by 7.2% during the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Canadian National Railway by 2.8% during the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after purchasing an additional 314,600 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Canadian National Railway by 7.8% during the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after purchasing an additional 674,536 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given 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 payout ratio is currently 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.