Raymond James Comments on Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities researchers at Raymond James increased their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a report released on Wednesday, April 24th. Raymond James analyst S. Hansen now expects that the transportation company will earn $1.46 per share for the quarter, up from their previous forecast of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $5.89 EPS and FY2025 earnings at $6.77 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion.

CNI has been the subject of a number of other reports. Barclays raised their target price on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Jefferies Financial Group started coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 target price for the company. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Citigroup raised their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Stephens reissued an “equal weight” rating and set a $140.00 price objective on shares of Canadian National Railway in a research report on Wednesday. Eighteen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $148.60.

Canadian National Railway Stock Up 1.6 %

NYSE CNI opened at $124.78 on Friday. The business has a fifty day moving average price of $129.58 and a 200 day moving average price of $122.22. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The company has a market cap of $79.70 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.14 and a beta of 0.88.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s payout ratio is 39.71%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors have recently added to or reduced their stakes in CNI. Bfsg LLC increased its position in Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after buying an additional 105 shares during the period. GAMMA Investing LLC increased its position in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares during the period. JFS Wealth Advisors LLC increased its position in Canadian National Railway by 241.1% during the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after buying an additional 229 shares during the period. EverSource Wealth Advisors LLC increased its position in Canadian National Railway by 121.0% during the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after buying an additional 202 shares during the period. Finally, Rational Advisors LLC acquired a new position in Canadian National Railway during the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.