Q2 2024 Earnings Forecast for Canadian National Railway (NYSE:CNI) Issued By Desjardins

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Desjardins reduced their Q2 2024 earnings estimates for shares of Canadian National Railway in a note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now forecasts that the transportation company will earn $1.36 per share for the quarter, down from their prior forecast of $1.39. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.47 EPS and Q4 2024 earnings at $1.78 EPS.

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

Other equities analysts have also recently issued research reports about the stock. Stephens reaffirmed an “equal weight” rating and issued a $140.00 price target on shares of Canadian National Railway in a research report on Wednesday. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 price target on the stock. CIBC cut shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Finally, Susquehanna raised their price target on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday. Eighteen analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Price Performance

CNI stock opened at $125.30 on Thursday. The stock has a market capitalization of $80.03 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. The company’s 50-day moving average is $129.49 and its 200-day moving average is $122.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Institutional Investors Weigh In On Canadian National Railway

Several large investors have recently modified their holdings of the stock. PDS Planning Inc increased its stake in shares of Canadian National Railway by 2.0% during the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock worth $574,000 after purchasing an additional 89 shares during the last quarter. Tacita Capital Inc grew its stake in Canadian National Railway by 0.4% in the 3rd quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock valued at $2,972,000 after buying an additional 97 shares in the last quarter. Bfsg LLC grew its stake in Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after buying an additional 105 shares in the last quarter. Signaturefd LLC grew its position in shares of Canadian National Railway by 1.0% during the 3rd quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock valued at $1,163,000 after purchasing an additional 110 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its position in shares of Canadian National Railway by 1.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock valued at $1,137,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. Canadian National Railway’s payout ratio is currently 39.87%.

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.