Q3 2024 EPS Estimates for Canadian National Railway Cut by Zacks Research (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Zacks Research lowered their Q3 2024 EPS estimates for Canadian National Railway in a research note issued on Thursday, August 29th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $1.42 per share for the quarter, down from their previous forecast of $1.45. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.63 per share. Zacks Research also issued estimates for Canadian National Railway’s Q2 2025 earnings at $1.53 EPS and Q4 2025 earnings at $1.85 EPS.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research report 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 objective for the stock from $146.25 to $130.67 in a report on Monday, July 8th. StockNews.com downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Wells Fargo & Company decreased their price target on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Stephens cut their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $138.35.

Canadian National Railway Stock Up 0.7 %

Shares of NYSE CNI opened at $117.82 on Monday. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The business has a fifty day moving average of $116.31 and a two-hundred day moving average of $123.31. The stock has a market cap of $74.19 billion, a PE ratio of 18.79, a PEG ratio of 2.40 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Canadian National Railway in the fourth quarter valued at approximately $769,556,000. Canoe Financial LP lifted its stake in shares of Canadian National Railway by 8,401.1% in the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after purchasing an additional 3,960,049 shares during the period. Capital International Investors boosted its position in shares of Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after purchasing an additional 2,951,506 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after purchasing an additional 2,163,820 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.614 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.08%. Canadian National Railway’s payout ratio is presently 39.23%.

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.