Canadian National Railway (TSE:CNR) Forecasted to Earn Q3 2024 Earnings of $1.71 Per Share

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Investment analysts at Desjardins decreased their Q3 2024 earnings per share (EPS) estimates for Canadian National Railway in a report released on Wednesday, September 11th. Desjardins analyst B. Poirier now anticipates that the company will post earnings per share of $1.71 for the quarter, down from their prior forecast of $1.95. Desjardins currently has a “Buy” rating and a $181.00 target price on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.87 per share. Desjardins also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.11 EPS, FY2024 earnings at $7.32 EPS, FY2025 earnings at $8.32 EPS, FY2026 earnings at $9.18 EPS, FY2027 earnings at $10.01 EPS and FY2028 earnings at $11.02 EPS.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Canadian National Railway from C$180.00 to C$176.00 in a research note on Wednesday, July 24th. Wells Fargo & Company upgraded Canadian National Railway to a “hold” rating in a research report on Wednesday, July 24th. TD Securities dropped their price objective on Canadian National Railway from C$185.00 to C$180.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. CIBC decreased their target price on Canadian National Railway from C$170.00 to C$160.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, UBS Group lowered their price target on Canadian National Railway from C$202.00 to C$189.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$174.93.

Canadian National Railway Price Performance

CNR stock opened at C$161.44 on Thursday. The firm has a 50 day moving average of C$158.80 and a 200-day moving average of C$167.48. The firm has a market capitalization of C$101.63 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. Canadian National Railway has a 12 month low of C$143.13 and a 12 month high of C$181.34. 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 posted its earnings results on Tuesday, July 23rd. The company reported C$1.84 earnings per share 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 company had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.40 billion.

Insider Activity at Canadian National Railway

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

Canadian National Railway Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be paid a $0.845 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.09%. Canadian National Railway’s dividend payout ratio (DPR) 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.