FY2024 Earnings Forecast for Canadian National Railway Issued By Desjardins (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Desjardins raised their FY2024 earnings estimates for shares of Canadian National Railway in a note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now expects that the transportation company will post earnings per share of $5.88 for the year, up from their prior estimate of $5.78. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s FY2025 earnings at $6.53 EPS, FY2026 earnings at $7.30 EPS, FY2027 earnings at $7.97 EPS and FY2028 earnings at $8.78 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion.

A number of other equities analysts have also commented on the stock. TD Securities lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Jefferies Financial Group started 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 on the stock. Susquehanna raised their target price on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Eighteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $148.60.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $124.78 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The firm has a market capitalization of $79.70 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. The company’s 50-day moving average is $129.58 and its 200 day moving average is $122.22.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. Canadian National Railway’s payout ratio is currently 39.71%.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bfsg LLC raised its holdings in shares of Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after purchasing an additional 105 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Canadian National Railway by 241.1% during the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after purchasing an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Canadian National Railway by 121.0% in the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after buying an additional 202 shares in the last quarter. Finally, Rational Advisors LLC purchased a new position in Canadian National Railway in the third quarter valued at $41,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.