Q2 2024 EPS Estimates for Canadian National Railway (NYSE:CNI) Lowered by Atb Cap Markets

Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR - Research analysts at Atb Cap Markets cut their Q2 2024 EPS estimates for Canadian National Railway in a note issued to investors on Tuesday, April 9th. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will earn $1.45 per share for the quarter, down from their prior forecast of $1.55. The consensus estimate for Canadian National Railway's current full-year earnings is $5.96 per share. Atb Cap Markets also issued estimates for Canadian National Railway's Q3 2024 earnings at $1.52 EPS, Q4 2024 earnings at $1.66 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.69 EPS and FY2025 earnings at $6.58 EPS.

A number of other analysts also recently weighed in on CNI. Susquehanna Bancshares upped their target price on shares of Canadian National Railway from $115.00 to $143.00 and gave the stock a "neutral" rating in a research report on Monday, January 8th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a research note on Monday. They set a "hold" rating and a $130.00 target price for the company. Benchmark reissued a "hold" rating on shares of Canadian National Railway in a research report on Wednesday. Wells Fargo & Company raised their price objective on Canadian National Railway from $110.00 to $125.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 24th. Finally, Bank of America raised Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $140.00 to $145.00 in a report on Wednesday. Eighteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $146.95.

Canadian National Railway Stock Down 1.4 %

CNI traded down $1.83 during trading on Thursday, reaching $129.43. The stock had a trading volume of 802,044 shares, compared to its average volume of 1,004,116. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $82.88 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.33 and a beta of 0.88. The stock's 50 day moving average is $129.72 and its two-hundred day moving average is $120.89. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were issued a $0.638 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.55 dividend on an annualized basis and a yield of 1.97%. Canadian National Railway's dividend payout ratio is currently 39.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Canadian National Railway during the 4th quarter valued at $727,713,000. Canoe Financial LP lifted its position in Canadian National Railway by 8,401.1% during the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company's stock valued at $503,423,000 after purchasing an additional 3,960,049 shares in the last quarter. Capital International Investors grew its holdings in Canadian National Railway by 63.2% during the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company's stock valued at $957,845,000 after purchasing an additional 2,951,506 shares during the period. Artisan Partners Limited Partnership purchased a new stake in Canadian National Railway in the third quarter worth about $273,243,000. Finally, Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company's stock worth $2,761,473,000 after buying an additional 1,907,938 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.