Raymond James Has Pessimistic Outlook of CNI Q3 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Raymond James reduced their Q3 2024 earnings estimates for Canadian National Railway in a research report issued to clients and investors on Wednesday, October 16th. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.26 per share for the quarter, down from their previous forecast of $1.30. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.54 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.55 EPS, FY2024 earnings at $5.44 EPS and FY2025 earnings at $6.14 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS 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 business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis.

Other equities analysts also recently issued reports about the stock. Stephens cut their price objective on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Barclays upped their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued 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 $126.02.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $113.62 on Friday. The company has a market cap of $71.85 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.56 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. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The business has a 50 day moving average price of $115.94 and a 200-day moving average price of $120.09.

Institutional Investors Weigh In On Canadian National Railway

Large investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $26,000. Addison Advisors LLC increased its holdings in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after acquiring an additional 207 shares during the last quarter. ORG Partners LLC purchased a new position in Canadian National Railway in the second quarter worth $34,000. Finally, Daiwa Securities Group Inc. bought a new position in Canadian National Railway in the first quarter valued at $64,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a $0.614 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.16%. Canadian National Railway’s payout ratio is currently 39.07%.

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.