National Bank Financial Weighs in on Canadian National Railway’s Q3 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at National Bank Financial reduced their Q3 2024 earnings estimates for shares of Canadian National Railway in a research note issued on Tuesday, July 23rd. 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 estimate of $1.51. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.80 per share. National Bank Financial also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.68 EPS and FY2025 earnings at $6.42 EPS.

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

Several other research analysts have also weighed in on CNI. Stifel Nicolaus cut their price objective on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a report on Wednesday. Susquehanna dropped their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Stephens dropped their target price on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 target price for the company. Eighteen research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $138.35.

Canadian National Railway Trading Up 1.8 %

Shares of CNI stock opened at $115.45 on Thursday. The firm has a market cap of $73.01 billion, a P/E ratio of 18.41, a PEG ratio of 2.21 and a beta of 0.89. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. 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 firm’s 50-day simple moving average is $121.28 and its 200-day simple moving average is $125.48.

Hedge Funds Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently made changes to their positions in CNI. Bfsg LLC boosted its stake in shares of Canadian National Railway by 110.5% during the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after buying an additional 105 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway during the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in shares of Canadian National Railway by 766.7% during 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 purchased a new position in shares of Canadian National Railway during the 2nd quarter valued at approximately $34,000. Finally, Keener Financial Planning LLC purchased a new position in shares of Canadian National Railway during the 4th quarter valued at approximately $46,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.39%.

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.