Brokers Offer Predictions for Canadian National Railway’s Q2 2024 Earnings (NYSE:CNI)
Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) – Investment analysts at National Bank Financial decreased their Q2 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a report issued on Wednesday, April 3rd. National Bank Financial analyst C. Doerksen now expects that the transportation company will earn $1.39 per share for the quarter, down from their prior forecast of $1.41. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.96 per share.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last released its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion.
A number of other equities analysts also recently commented on CNI. Susquehanna Bancshares increased their price objective on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. TD Securities downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Wells Fargo & Company upped their target price on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Finally, Citigroup upped their target price 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. Seventeen investment 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 presently has an average rating of “Hold” and a consensus target price of $147.55.
View Our Latest Stock Analysis on CNI
Canadian National Railway Trading Up 0.6 %
NYSE:CNI opened at $129.74 on Monday. The stock’s 50 day moving average price is $129.28 and its 200 day moving average price is $120.47. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a market capitalization of $83.08 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.32 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61.
Canadian National Railway Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were given a $0.638 dividend. This represents a $2.55 annualized dividend and a dividend yield of 1.97%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, March 6th. Canadian National Railway’s dividend payout ratio is currently 39.59%.
Institutional Investors Weigh In On Canadian National Railway
Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Canadian National Railway in the fourth quarter valued at $727,713,000. Canoe Financial LP raised its stake in shares of Canadian National Railway by 8,401.1% in the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after purchasing an additional 3,960,049 shares in the last quarter. Capital International Investors raised its stake in shares of Canadian National Railway by 63.2% in the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after purchasing an additional 2,951,506 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Canadian National Railway in the third quarter valued at $273,243,000. Finally, Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. 80.74% of the stock is owned by institutional investors.
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.
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