Atb Cap Markets Has Bearish Estimate for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Atb Cap Markets lowered their FY2024 earnings estimates for shares of Canadian National Railway in a research report issued to clients and investors on Tuesday, October 22nd. Atb Cap Markets analyst C. Murray now expects that the transportation company will earn $5.29 per share for the year, down from their previous forecast of $5.57. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.49 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.68 EPS, Q1 2026 earnings at $1.53 EPS, Q2 2026 earnings at $1.64 EPS, Q3 2026 earnings at $1.61 EPS and FY2026 earnings at $6.62 EPS.

CNI has been the topic of several other research reports. Citigroup boosted their price objective on shares of Canadian National Railway from $125.00 to $126.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays boosted their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Susquehanna reduced their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. Sanford C. Bernstein decreased their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Finally, Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and cut their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Stock Performance

CNI opened at $110.83 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average price is $116.02 and its two-hundred day moving average price is $119.72. The firm has a market capitalization of $69.80 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share.

Hedge Funds Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNI. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Canadian National Railway during the second quarter worth about $26,000. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 207 shares during the period. Addison Advisors LLC lifted its holdings in shares of 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 acquiring an additional 148 shares during the period. ORG Partners LLC acquired a new stake in shares of Canadian National Railway during the 2nd quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. bought a new position in Canadian National Railway in the first quarter valued at approximately $64,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. Canadian National Railway’s payout ratio is 39.26%.

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.