Q3 2024 EPS Estimates for Canadian National Railway Cut by Raymond James (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Equities research analysts at Raymond James cut their Q3 2024 earnings estimates for Canadian National Railway in a note issued to investors on Wednesday, September 11th. Raymond James analyst S. Hansen now anticipates that the company will post earnings per share of $1.76 for the quarter, down from their previous forecast of $2.02. Raymond James has a “Outperform” rating and a $180.00 price objective on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.87 per share. Raymond James also issued estimates for Canadian National Railway’s FY2024 earnings at $7.50 EPS and FY2025 earnings at $8.60 EPS.

Several other analysts have also weighed in on CNR. Stephens upgraded Canadian National Railway to a “hold” rating in a report on Wednesday, July 24th. Scotiabank reduced their target price on shares of Canadian National Railway from C$187.00 to C$180.00 and set an “outperform” rating on the stock in a research note on Wednesday. National Bank Financial raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 26th. Barclays reduced their price objective on shares of Canadian National Railway from C$175.00 to C$165.00 in a research report on Wednesday, July 24th. Finally, CIBC dropped their target price on Canadian National Railway from C$170.00 to C$160.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five 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 currently has a consensus rating of “Hold” and a consensus price target of C$174.93.

Canadian National Railway Price Performance

TSE:CNR opened at C$162.20 on Thursday. The firm has a market capitalization of C$102.10 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.06 and a beta of 0.65. The company has a debt-to-equity ratio of 107.62, a current ratio of 0.63 and a quick ratio of 0.58. The business has a 50 day simple moving average of C$158.83 and a 200-day simple moving average of C$167.52. Canadian National Railway has a 1 year low of C$143.13 and a 1 year high of C$181.34.

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 analysts’ consensus estimates 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 business had revenue of C$4.33 billion during the quarter, compared to the consensus estimate of C$4.40 billion.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be given a dividend of $0.845 per share. This represents a $3.38 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 40.14%.

Insiders Place Their Bets

In other Canadian National Railway news, Director Shauneen Elizabeth Bruder bought 544 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were bought at an average cost of C$160.21 per share, for a total transaction of C$87,156.42. In other Canadian National Railway news, Director Shauneen Elizabeth Bruder acquired 544 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of C$160.21 per share, with a total value of C$87,156.42. Also, Director Josephine Ann Marie Depass Olsovsky bought 2,610 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average price of C$115.29 per share, with a total value of C$300,906.90. Company insiders own 1.69% 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.