Desjardins Comments on Canadian National Railway’s Q2 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Investment analysts at Desjardins boosted their Q2 2024 EPS estimates for Canadian National Railway in a research note issued to investors on Monday, July 8th. Desjardins analyst B. Poirier now anticipates that the company will earn $1.90 per share for the quarter, up from their prior estimate of $1.86. Desjardins currently has a “Buy” rating and a $195.00 price objective on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $7.79 per share. Desjardins also issued estimates for Canadian National Railway’s FY2024 earnings at $7.96 EPS, FY2025 earnings at $8.85 EPS, FY2026 earnings at $9.86 EPS, FY2027 earnings at $10.76 EPS and FY2028 earnings at $11.85 EPS.

Several other analysts have also issued reports on the stock. TD Securities lifted their target price on shares of Canadian National Railway from C$185.00 to C$190.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. CIBC lifted their price objective on Canadian National Railway from C$177.00 to C$183.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. UBS Group decreased their target price on Canadian National Railway from C$205.00 to C$202.00 in a research report on Wednesday, April 24th. National Bank Financial upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 26th. Finally, National Bankshares upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating and set a C$190.00 price objective on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$183.14.

Canadian National Railway Trading Up 0.7 %

Shares of TSE:CNR opened at C$162.71 on Wednesday. The firm has a market capitalization of C$103.52 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. The business’s 50 day moving average price is C$167.82 and its 200-day moving average price is C$170.89. The company has a debt-to-equity ratio of 101.48, a current ratio of 0.60 and a quick ratio of 0.58. Canadian National Railway has a 1 year low of C$143.13 and a 1 year high of C$181.34.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported C$1.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$1.72. Canadian National Railway had a return on equity of 27.06% and a net margin of 32.86%. The company had revenue of C$4.25 billion for the quarter, compared to the consensus estimate of C$4.29 billion.

Insider Buying and Selling

In related news, Director Shauneen Elizabeth Bruder acquired 544 shares of Canadian National Railway stock in a transaction that occurred on Tuesday, June 25th. The shares were purchased at an average cost of C$160.21 per share, for a total transaction of C$87,156.42. 1.69% of the stock is currently owned by company insiders.

Canadian National Railway Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.845 per share. This represents a $3.38 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s payout ratio is presently 41.22%.

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.