Raymond James Brokers Decrease Earnings Estimates for CNI

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James cut their Q3 2024 EPS estimates for shares of Canadian National Railway in a research report issued to clients and investors on Wednesday, October 16th. Raymond James analyst S. Hansen now expects that the transportation company will post earnings of $1.26 per share for the quarter, down from their previous estimate of $1.30. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.54 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.55 EPS, FY2024 earnings at $5.44 EPS and FY2025 earnings at $6.14 EPS.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Evercore ISI cut their price target on shares of Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a research note on Wednesday, September 25th. Stifel Nicolaus lowered their price objective on shares of Canadian National Railway from $133.00 to $130.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Finally, Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average price target of $126.02.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $113.62 on Friday. The stock has a fifty day moving average price of $115.94 and a 200 day moving average price of $120.16. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The firm has a market capitalization of $71.85 billion, a P/E ratio of 18.12, a PEG ratio of 2.56 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Canadian National Railway during the second quarter valued at about $26,000. Addison Advisors LLC increased its holdings in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. GAMMA Investing LLC increased its holdings in Canadian National Railway by 766.7% during the 1st 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. ORG Partners LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter valued at approximately $34,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Canadian National Railway during the 1st quarter valued at approximately $64,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a $0.614 dividend. This represents a $2.46 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is 39.07%.

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.