National Bank Financial Brokers Raise Earnings Estimates for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at National Bank Financial boosted their Q2 2024 earnings per share (EPS) estimates for Canadian National Railway in a research note issued to investors on Wednesday, June 26th. National Bank Financial analyst C. Doerksen now anticipates that the transportation company will post earnings per share of $1.41 for the quarter, up from their prior estimate of $1.37. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.90 per share. National Bank Financial also issued estimates for Canadian National Railway’s FY2024 earnings at $5.88 EPS.

Several other equities analysts have also recently commented on CNI. Wells Fargo & Company started coverage on Canadian National Railway in a research report on Friday, June 7th. They set an “equal weight” rating and a $130.00 target price for the company. Stifel Nicolaus boosted their target price on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Jefferies Financial Group initiated coverage on Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Stephens reiterated an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a report on Wednesday, April 24th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, April 24th. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $148.95.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $117.60 on Monday. The stock has a market cap of $74.62 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. The stock has a fifty day moving average of $123.63 and a 200-day moving average of $126.22.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.01. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.13%. Canadian National Railway’s dividend payout ratio is 39.08%.

Institutional Trading of Canadian National Railway

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Canadian National Railway by 151.7% during the 2nd quarter. GAMMA Investing LLC now owns 589 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 355 shares during the last quarter. Capital Market Strategies LLC purchased a new stake in Canadian National Railway during the 2nd quarter valued at $473,000. EverSource Wealth Advisors LLC boosted its stake in Canadian National Railway by 22.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 841 shares of the transportation company’s stock valued at $102,000 after purchasing an additional 153 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Canadian National Railway by 2.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 456,943 shares of the transportation company’s stock valued at $60,415,000 after purchasing an additional 9,204 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Canadian National Railway during the 1st quarter valued at $217,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.