National Bank Financial Brokers Raise Earnings Estimates for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at National Bank Financial boosted their Q2 2024 earnings per share estimates for shares of Canadian National Railway in a research note issued on Wednesday, June 26th. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will earn $1.41 per share for the quarter, up from their previous forecast of $1.37. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.90 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2024 earnings at $5.88 EPS.

CNI has been the topic of several other reports. Wells Fargo & Company began coverage on Canadian National Railway in a report on Friday, June 7th. They set an “equal weight” rating and a $130.00 price target on the stock. Jefferies Financial Group began coverage on Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Susquehanna decreased their target price on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a report on Wednesday, April 24th. Eighteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $148.95.

Canadian National Railway Price Performance

NYSE CNI opened at $117.60 on Monday. The business’s fifty day moving average price is $123.63 and its 200-day moving average price is $126.22. The stock has a market capitalization of $74.62 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PDS Planning Inc raised its holdings in Canadian National Railway by 2.0% in the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock valued at $574,000 after acquiring an additional 89 shares during the last quarter. GQG Partners LLC raised its holdings in Canadian National Railway by 0.8% in the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after acquiring an additional 93 shares during the last quarter. Choreo LLC raised its holdings in Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after acquiring an additional 97 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after acquiring an additional 100 shares during the last quarter. Finally, Bfsg LLC raised its holdings 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 acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.13%. Canadian National Railway’s payout ratio is 39.08%.

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.