Q3 2024 EPS Estimates for Canadian National Railway (NYSE:CNI) Cut by Analyst

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Raymond James cut their Q3 2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a research note issued to investors on Tuesday, July 23rd. Raymond James analyst S. Hansen now forecasts that the transportation company will post earnings per share of $1.47 for the quarter, down from their previous estimate of $1.49. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.80 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $5.73 EPS and FY2025 earnings at $6.50 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year.

Several other research firms have also recently commented on CNI. Susquehanna lowered their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Barclays cut their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday. Eighteen equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $146.08.

Canadian National Railway Trading Down 2.1 %

CNI stock opened at $113.42 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.46. The stock has a market capitalization of $71.73 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.21 and a beta of 0.89. The business has a fifty day moving average price of $121.52 and a 200 day moving average price of $125.55. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bfsg LLC raised its holdings in shares of Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway in the second quarter valued at $26,000. GAMMA Investing LLC increased its stake in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares during the last quarter. ORG Partners LLC bought a new stake in Canadian National Railway during the 2nd quarter worth about $34,000. Finally, Keener Financial Planning LLC acquired a new position in shares of Canadian National Railway during the 4th quarter worth about $46,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.17%. Canadian National Railway’s dividend payout ratio (DPR) is 39.23%.

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.