Canadian National Railway to Post Q2 2024 Earnings of $1.90 Per Share, Desjardins Forecasts (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Analysts at Desjardins raised their Q2 2024 EPS estimates for shares of Canadian National Railway in a research note issued to investors on Monday, July 8th. Desjardins analyst B. Poirier now expects that the company will earn $1.90 per share for the quarter, up from their previous forecast of $1.86. Desjardins has a “Buy” rating and a $195.00 price target on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $7.79 per share. Desjardins also issued estimates for Canadian National Railway’s FY2024 earnings at $7.96 EPS, FY2025 earnings at $8.85 EPS, FY2026 earnings at $9.86 EPS, FY2027 earnings at $10.76 EPS and FY2028 earnings at $11.85 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported C$1.72 earnings per share for the quarter, hitting analysts’ consensus estimates of C$1.72. The business had revenue of C$4.25 billion for the quarter, compared to analyst estimates of C$4.29 billion. Canadian National Railway had a return on equity of 27.06% and a net margin of 32.86%.

A number of other equities analysts have also commented on CNR. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$195.00 to C$179.00 in a report on Monday. Scotiabank upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$184.00 to C$188.00 in a report on Wednesday. UBS Group lowered their target price on Canadian National Railway from C$205.00 to C$202.00 in a research report on Wednesday, April 24th. National Bankshares raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating and set a C$190.00 price target on the stock in a research report on Thursday, June 27th. Finally, Barclays raised their price objective on Canadian National Railway from C$170.00 to C$175.00 in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$183.14.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at C$162.71 on Wednesday. The business has a 50 day moving average of C$167.82 and a 200-day moving average of C$170.89. The company has a market capitalization of C$103.52 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.06 and a beta of 0.66. Canadian National Railway has a 1 year low of C$143.13 and a 1 year high of C$181.34. The company has a debt-to-equity ratio of 101.48, a current ratio of 0.60 and a quick ratio of 0.58.

Insiders Place Their Bets

In other news, Director Shauneen Elizabeth Bruder acquired 544 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of C$160.21 per share, for a total transaction of C$87,156.42. Company insiders own 1.69% of the company’s stock.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $0.845 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s payout ratio is currently 41.22%.

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.