Brokers Issue Forecasts for Canadian National Railway’s Q2 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities researchers at Raymond James lifted their Q2 2024 earnings estimates for Canadian National Railway in a research note issued to investors on Wednesday, April 24th. Raymond James analyst S. Hansen now expects that the company will post earnings of $2.00 per share for the quarter, up from their prior estimate of $1.99. Raymond James has a “Outperform” rating and a $190.00 price target on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.01 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.24 EPS and FY2025 earnings at $9.25 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported C$2.02 earnings per share for the quarter, topping the consensus estimate of C$1.96 by C$0.06. Canadian National Railway had a net margin of 33.43% and a return on equity of 27.11%. The business had revenue of C$4.47 billion during the quarter, compared to analysts’ expectations of C$4.38 billion.

CNR has been the subject of several other research reports. Desjardins boosted their target price on Canadian National Railway from C$189.00 to C$195.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets increased their price target on Canadian National Railway from C$185.00 to C$195.00 in a report on Monday, April 1st. TD Securities increased their price target on Canadian National Railway from C$185.00 to C$190.00 and gave the stock a “hold” rating in a report on Wednesday. Scotiabank increased their price target on Canadian National Railway from C$173.00 to C$184.00 and gave the company a “sector perform” rating in a research report on Monday, March 25th. Finally, Sanford C. Bernstein raised their target price on Canadian National Railway from C$191.00 to C$195.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$184.50.

Canadian National Railway Trading Up 1.2 %

CNR opened at C$170.40 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 93.89. The stock has a market capitalization of C$109.10 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.06 and a beta of 0.65. Canadian National Railway has a twelve month low of C$143.13 and a twelve month high of C$181.34. The company has a 50-day simple moving average of C$175.98 and a 200 day simple moving average of C$165.64.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.845 per share. The ex-dividend date is Friday, June 7th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 1.98%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.62%.

Insider Activity

In related news, Senior Officer Derek Michael Taylor sold 2,610 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of C$131.26, for a total transaction of C$342,577.38. In related news, Director Shauneen Elizabeth Bruder purchased 488 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average cost of C$177.40 per share, with a total value of C$86,571.20. Also, Senior Officer Derek Michael Taylor sold 2,610 shares of Canadian National Railway stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$131.26, for a total value of C$342,577.38. Corporate insiders own 1.67% of the company’s stock.

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.