Raymond James Has Pessimistic Outlook of CNI Q3 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Raymond James reduced their Q3 2024 earnings estimates for shares of Canadian National Railway in a research report issued on Wednesday, October 16th. Raymond James analyst S. Hansen now forecasts that the transportation company will earn $1.26 per share for the quarter, down from their prior forecast 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.

Several other analysts have also weighed in on CNI. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Wells Fargo & Company upgraded 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 report on Monday, October 7th. The Goldman Sachs Group dropped their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Finally, Citigroup started coverage on shares of Canadian National Railway in a research note on Wednesday, October 9th. They set a “neutral” rating and a $125.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.02.

Canadian National Railway Trading Down 1.3 %

Shares of CNI stock opened at $114.42 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. 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 market cap of $72.06 billion, a PE ratio of 18.34, a P/E/G ratio of 2.56 and a beta of 0.88. The stock’s fifty day moving average price is $115.89 and its two-hundred day moving average price is $120.29.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS 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 firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the prior year, the business earned $1.31 earnings per share. Canadian National Railway’s quarterly revenue was up 6.7% compared to the same quarter last year.

Hedge Funds Weigh In On Canadian National Railway

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $339,000. CWM LLC lifted its holdings in Canadian National Railway by 7.8% in the first quarter. CWM LLC now owns 4,021 shares of the transportation company’s stock valued at $530,000 after buying an additional 291 shares during the period. GAMMA Investing LLC boosted its position in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Canadian National Railway by 24.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 966 shares of the transportation company’s stock worth $127,000 after acquiring an additional 190 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Canadian National Railway by 10.4% during the 1st quarter. Park Avenue Securities LLC now owns 14,716 shares of the transportation company’s stock worth $1,938,000 after acquiring an additional 1,386 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.614 per share. The ex-dividend date was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.15%. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

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.