Analysts Issue Forecasts for Canadian National Railway’s Q3 2024 Earnings (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Research analysts at Raymond James reduced their Q3 2024 earnings per share estimates for shares of Canadian National Railway in a report released on Tuesday, July 23rd. Raymond James analyst S. Hansen now anticipates that the company will post earnings of $2.02 per share for the quarter, down from their previous forecast of $2.04. Raymond James currently has a “Outperform” rating and a $190.00 target price on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $7.79 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.27 EPS, FY2024 earnings at $7.85 EPS and FY2025 earnings at $8.90 EPS.

A number of other research firms have also recently commented on CNR. Scotiabank decreased their price objective on Canadian National Railway from C$188.00 to C$187.00 in a report on Wednesday. CIBC decreased their price target on Canadian National Railway from C$183.00 to C$170.00 in a research note on Wednesday. Desjardins cut their price objective on Canadian National Railway from C$194.00 to C$192.00 in a research report on Wednesday. Wells Fargo & Company raised shares of Canadian National Railway to a “hold” rating in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target on shares of Canadian National Railway from C$188.00 to C$182.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$179.29.

Canadian National Railway Price Performance

Shares of CNR stock opened at C$156.82 on Friday. The firm’s 50-day moving average is C$166.34 and its two-hundred day moving average is C$170.77. Canadian National Railway has a 12 month low of C$143.13 and a 12 month 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. The company has a market capitalization of C$99.77 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66.

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

Insider Activity

In related news, Director Shauneen Elizabeth Bruder bought 544 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average cost of C$160.21 per share, with a total value of C$87,156.42. Insiders own 1.69% of the company’s stock.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a dividend of $0.845 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend 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.