Canadian National Railway to Post Q3 2024 Earnings of $1.71 Per Share, Desjardins Forecasts (TSE:CNR)

Canadian National Railway (TSE:CNR) (NYSE:CNI) – Investment analysts at Desjardins decreased their Q3 2024 earnings per share estimates for shares of Canadian National Railway in a research report issued on Wednesday, September 11th. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of $1.71 for the quarter, down from their previous forecast of $1.95. Desjardins currently has a “Buy” rating and a $181.00 target price on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $8.87 per share. Desjardins also issued estimates for Canadian National Railway’s Q4 2024 earnings at $2.11 EPS, FY2024 earnings at $7.32 EPS, FY2025 earnings at $8.32 EPS, FY2026 earnings at $9.18 EPS, FY2027 earnings at $10.01 EPS and FY2028 earnings at $11.02 EPS.

Canadian National Railway (TSE:CNR) (NYSE:CNI) last issued its earnings results on Tuesday, July 23rd. The company reported C$1.84 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.93 by C($0.09). Canadian National Railway had a return on equity of 27.41% and a net margin of 32.02%. The firm had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.40 billion.

Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Canadian National Railway from C$182.00 to C$178.00 and set an “outperform” rating on the stock in a research report on Wednesday. Scotiabank cut their target price on Canadian National Railway from C$187.00 to C$180.00 and set an “outperform” rating on the stock in a research report on Wednesday. National Bankshares decreased their price target on Canadian National Railway from C$190.00 to C$186.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Raymond James dropped their price objective on Canadian National Railway from C$187.00 to C$180.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$195.00 to C$179.00 in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$175.64.

Canadian National Railway Stock Up 0.3 %

Canadian National Railway stock opened at C$158.08 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 107.62. The firm’s fifty day moving average price is C$158.84 and its two-hundred day moving average price is C$167.56. The firm has a market capitalization of C$99.51 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. Canadian National Railway has a 1-year low of C$143.13 and a 1-year high of C$181.34.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be given a $0.845 dividend. This represents a $3.38 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 40.14%.

Insider Buying and Selling at Canadian National Railway

In other news, Director Shauneen Elizabeth Bruder purchased 544 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was bought at an average price of C$160.21 per share, for a total transaction of C$87,156.42. In other Canadian National Railway news, Director Josephine Ann Marie Depass Olsovsky bought 2,610 shares of the stock in a transaction on Friday, July 26th. The shares were acquired at an average price of C$115.29 per share, with a total value of C$300,906.90. Also, Director Shauneen Elizabeth Bruder purchased 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, with a total value of C$87,156.42. Corporate insiders own 1.69% of the company’s stock.

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.