Canadian National Railway to Post Q2 2024 Earnings of $1.45 Per Share, Atb Cap Markets Forecasts (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Atb Cap Markets lowered their Q2 2024 earnings per share estimates for Canadian National Railway in a research report issued on Tuesday, April 9th. Atb Cap Markets analyst C. Murray now forecasts that the transportation company will post earnings per share of $1.45 for the quarter, down from their prior estimate of $1.55. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.96 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q3 2024 earnings at $1.52 EPS, Q4 2024 earnings at $1.66 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.58 EPS.

CNI has been the topic of several other research reports. Barclays lifted their target price on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Jefferies Financial Group assumed coverage on Canadian National Railway in a research report on Monday. They issued a “hold” rating and a $130.00 price objective on the stock. Stephens boosted their price objective on Canadian National Railway from $122.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. Citigroup boosted their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $146.95.

Canadian National Railway Stock Up 0.2 %

Shares of NYSE:CNI opened at $131.31 on Thursday. The stock has a market cap of $84.08 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.33 and a beta of 0.88. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The business’s 50 day moving average is $129.67 and its 200 day moving average is $120.83.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were issued a $0.638 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.55 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, March 6th. Canadian National Railway’s dividend payout ratio is presently 39.59%.

Hedge Funds Weigh In On Canadian National Railway

A number of hedge funds and other institutional investors have recently modified their holdings of CNI. O Dell Group LLC purchased a new position in shares of Canadian National Railway in the 4th quarter worth about $29,000. Tyler Stone Wealth Management purchased a new stake in Canadian National Railway during the 2nd quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 207 shares during the period. JFS Wealth Advisors LLC boosted its holdings in Canadian National Railway by 241.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 229 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Canadian National Railway by 121.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 202 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.