Canadian National Railway Forecasted to Earn FY2024 Earnings of $5.65 Per Share (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at National Bank Financial reduced their FY2024 earnings estimates for Canadian National Railway in a research report issued on Tuesday, July 23rd. National Bank Financial analyst C. Doerksen now forecasts that the transportation company will post earnings per share of $5.65 for the year, down from their previous forecast of $5.88. 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.

Other equities analysts also recently issued reports about the stock. Barclays reduced their target price on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday. Stifel Nicolaus lowered their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Jefferies Financial Group began coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Finally, Sanford C. Bernstein downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Eighteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $146.08.

Canadian National Railway Stock Down 2.1 %

NYSE CNI opened at $113.42 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $121.52 and a two-hundred day moving average of $125.55. The firm has a market capitalization of $71.73 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.21 and a beta of 0.89. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results 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). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the firm posted $1.31 earnings per share. Canadian National Railway’s revenue for the quarter was up 6.7% on a year-over-year basis.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is 39.23%.

Institutional Trading of Canadian National Railway

Large investors have recently bought and sold shares of the company. Raymond James & Associates lifted its position in Canadian National Railway by 13.2% during the fourth quarter. Raymond James & Associates now owns 233,453 shares of the transportation company’s stock worth $29,329,000 after buying an additional 27,248 shares during the period. Schechter Investment Advisors LLC grew its stake in Canadian National Railway by 13.9% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,436 shares of the transportation company’s stock valued at $934,000 after purchasing an additional 909 shares in the last quarter. PFG Investments LLC acquired a new stake in Canadian National Railway during the 4th quarter valued at approximately $208,000. Ritholtz Wealth Management grew its position in shares of Canadian National Railway by 6.2% in the 4th quarter. Ritholtz Wealth Management now owns 22,628 shares of the transportation company’s stock worth $2,843,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Canadian National Railway by 104.3% in the 4th quarter. Blue Trust Inc. now owns 662 shares of the transportation company’s stock worth $83,000 after acquiring an additional 338 shares in the last quarter. Institutional investors and hedge funds own 80.74% 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.