National Bank Financial Forecasts CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at National Bank Financial dropped their FY2024 earnings per share estimates for Canadian National Railway in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will earn $5.37 per share for the year, down from their prior estimate of $5.56. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.57 EPS and FY2025 earnings at $6.11 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued 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 analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share.

Other analysts have also issued reports about the stock. Barclays increased 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. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group reduced their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Susquehanna reduced their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Trading Up 0.1 %

Shares of CNI opened at $110.96 on Thursday. Canadian National Railway has a twelve month low of $103.96 and a twelve month 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 company’s fifty day simple moving average is $115.97 and its 200-day simple moving average is $119.66. The company has a market cap of $69.88 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.50 and a beta of 0.88.

Institutional Trading of Canadian National Railway

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway during the 2nd quarter valued at approximately $26,000. Addison Advisors LLC lifted its position in Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC boosted its holdings in Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. GAMMA Investing LLC grew its position in 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 purchasing an additional 207 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Canadian National Railway during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

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.