Raymond James Equities Analysts Cut Earnings Estimates for Canadian National Railway (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Raymond James lowered their Q3 2024 earnings per share (EPS) estimates for Canadian National Railway in a research report issued on Tuesday, July 23rd. Raymond James analyst S. Hansen now anticipates that the transportation company will post earnings of $1.47 per share for the quarter, down from their previous forecast of $1.49. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.80 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $5.73 EPS and FY2025 earnings at $6.50 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on CNI. Wells Fargo & Company reduced their price objective on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Stephens cut their target price on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Susquehanna lowered their price target on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday. Eighteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $146.08.

Canadian National Railway Trading Down 2.1 %

Shares of CNI opened at $113.42 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.46 and a current ratio of 0.63. The firm has a market cap of $71.73 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.21 and a beta of 0.89. The firm has a 50 day moving average price of $121.52 and a 200-day moving average price of $125.55. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Raymond James & Associates lifted its holdings in shares of Canadian National Railway by 13.2% during the fourth quarter. Raymond James & Associates now owns 233,453 shares of the transportation company’s stock valued at $29,329,000 after purchasing an additional 27,248 shares during the last quarter. Schechter Investment Advisors LLC increased its position in Canadian National Railway by 13.9% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,436 shares of the transportation company’s stock valued at $934,000 after buying an additional 909 shares in the last quarter. PFG Investments LLC purchased a new position in Canadian National Railway during the fourth quarter valued at $208,000. Ritholtz Wealth Management boosted its holdings in Canadian National Railway by 6.2% in the fourth quarter. Ritholtz Wealth Management now owns 22,628 shares of the transportation company’s stock worth $2,843,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Canadian National Railway by 104.3% in the fourth quarter. Blue Trust Inc. now owns 662 shares of the transportation company’s stock worth $83,000 after acquiring an additional 338 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 39.23%.

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.