Raymond James Issues Negative Outlook for CNI Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Research analysts at Raymond James decreased their Q3 2024 EPS estimates for shares of Canadian National Railway in a research note issued on Wednesday, October 16th. Raymond James analyst S. Hansen now expects that the transportation company will post earnings per share of $1.26 for the quarter, down from their previous 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.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $4.40 billion. During the same period last year, the business posted $1.31 EPS. The company’s revenue was up 6.7% on a year-over-year basis.

Several other research firms have also issued reports on CNI. Susquehanna reduced their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price on the stock in a research note on Monday, October 7th. Sanford C. Bernstein decreased their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $126.02.

Canadian National Railway Price Performance

Shares of CNI opened at $114.42 on Friday. The stock has a market cap of $72.06 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.56 and a beta of 0.88. The business’s fifty day moving average is $115.89 and its 200 day moving average is $120.29. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Institutional Investors Weigh In On Canadian National Railway

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

Canadian National Railway Cuts Dividend

The business also recently declared 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. This represents a $2.46 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 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.