Analysts Issue Forecasts for Canadian National Railway’s Q3 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Zacks Research reduced their Q3 2024 earnings estimates for Canadian National Railway in a research report issued to clients and investors on Thursday, August 29th. Zacks Research analyst M. Basu now expects that the company will earn $1.89 per share for the quarter, down from their previous forecast of $2.01. The consensus estimate for Canadian National Railway’s current full-year earnings is $7.70 per share. Zacks Research also issued estimates for Canadian National Railway’s FY2024 earnings at $7.67 EPS, Q1 2025 earnings at $1.88 EPS, Q2 2025 earnings at $2.04 EPS, Q3 2025 earnings at $2.12 EPS, FY2025 earnings at $8.50 EPS, Q1 2026 earnings at $2.26 EPS, Q2 2026 earnings at $2.36 EPS and FY2026 earnings at $9.45 EPS.

Several other brokerages have also commented on CNR. ATB Capital dropped their price target on shares of Canadian National Railway from C$180.00 to C$177.00 in a research note on Wednesday, July 24th. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$195.00 to C$179.00 in a research note on Monday, July 8th. CIBC lowered their price objective on shares of Canadian National Railway from C$183.00 to C$170.00 in a research note on Wednesday, July 24th. TD Securities lowered their price objective on shares of Canadian National Railway from C$185.00 to C$180.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Finally, National Bankshares lowered their price objective on shares of Canadian National Railway from C$190.00 to C$186.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$179.29.

Canadian National Railway Price Performance

Shares of TSE:CNR opened at C$158.79 on Monday. The firm’s 50 day moving average is C$159.28 and its two-hundred day moving average is C$168.51. Canadian National Railway has a 52 week low of C$143.13 and a 52 week high of C$181.34. The firm has a market capitalization of C$99.96 billion, a P/E ratio of 18.86, a PEG ratio of 2.06 and a beta of 0.65. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 107.62.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported C$1.84 EPS for the quarter, missing the consensus estimate of C$1.93 by C($0.09). Canadian National Railway had a net margin of 32.02% and a return on equity of 27.41%. The firm had revenue of C$4.33 billion during the quarter, compared to analyst estimates of C$4.40 billion.

Insider Buying and Selling

In other news, Director Shauneen Elizabeth Bruder acquired 544 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average price of C$160.21 per share, with a total value of C$87,156.42. In other news, Director Shauneen Elizabeth Bruder acquired 544 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average price of C$160.21 per share, with a total value of C$87,156.42. Also, Director Josephine Ann Marie Depass Olsovsky acquired 2,610 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of C$115.29 per share, with a total value of C$300,906.90. 1.68% of the stock is currently owned by insiders.

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a dividend of $0.845 per share. This represents a $3.38 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s payout ratio is 40.14%.

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.