Canadian National Railway (NYSE:CNI) to Post Q1 2024 Earnings of $1.29 Per Share, Atb Cap Markets Forecasts

Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR - Atb Cap Markets upped their Q1 2024 earnings estimates for shares of Canadian National Railway in a research note issued on Tuesday, April 9th. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will earn $1.29 per share for the quarter, up from their prior forecast of $1.28. 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 FY2024 earnings at $5.91 EPS, Q1 2025 earnings at $1.46 EPS and Q4 2025 earnings at $1.83 EPS.

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

Other analysts also recently issued research reports about the stock. Stephens increased their target price on shares of Canadian National Railway from $122.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 4th. Jefferies Financial Group began coverage on Canadian National Railway in a report on Monday. They issued a "hold" rating and a $130.00 price target for the company. TD Securities cut Canadian National Railway from a "buy" rating to a "hold" rating in a report on Monday, January 8th. CIBC cut Canadian National Railway from a "sector outperform" rating to a "neutral" rating in a report on Wednesday, January 10th. Finally, Susquehanna Bancshares upped their price target on Canadian National Railway from $115.00 to $143.00 and gave the stock a "neutral" rating in a report on Monday, January 8th. Eighteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $147.52.

Canadian National Railway Trading Down 0.7 %

CNI traded down $0.96 on Friday, reaching $128.47. 767,929 shares of the company's stock were exchanged, compared to its average volume of 1,000,789. The company's 50 day moving average is $129.76 and its 200-day moving average is $121.01. The company has a market cap of $82.26 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.34 and a beta of 0.88. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61.

Hedge Funds Weigh In On Canadian National Railway

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Canadian National Railway in the fourth quarter worth $727,713,000. Canoe Financial LP increased its position in Canadian National Railway by 8,401.1% in the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company's stock worth $503,423,000 after buying an additional 3,960,049 shares during the period. Capital International Investors increased its position in Canadian National Railway by 63.2% in the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company's stock worth $957,845,000 after buying an additional 2,951,506 shares during the period. Artisan Partners Limited Partnership acquired a new stake in Canadian National Railway in the third quarter worth $273,243,000. Finally, Wellington Management Group LLP increased its position in 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 currently owned by institutional investors.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were paid a dividend of $0.638 per share. The ex-dividend date was Wednesday, March 6th. This is a boost from Canadian National Railway's previous quarterly dividend of $0.58. This represents a $2.55 annualized dividend and a yield of 1.99%. Canadian National Railway's dividend payout ratio (DPR) is 39.43%.

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.