Atb Cap Markets Issues Pessimistic Forecast for CNI Earnings

Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR - Stock analysts at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for Canadian National Railway in a research note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will post earnings per share of $5.29 for the year, down from their prior estimate of $5.57. The consensus estimate for Canadian National Railway's current full-year earnings is $5.50 per share. Atb Cap Markets also issued estimates for Canadian National Railway's Q4 2024 earnings at $1.49 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.68 EPS, Q1 2026 earnings at $1.53 EPS, Q2 2026 earnings at $1.64 EPS, Q3 2026 earnings at $1.61 EPS and FY2026 earnings at $6.62 EPS.

Several other research analysts have also commented on CNI. Stephens reissued an "equal weight" rating and set a $116.00 price objective on shares of Canadian National Railway in a report on Wednesday. Evercore ISI cut their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating for the company in a research report on Wednesday. Wells Fargo & Company upgraded Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price objective for the company in a report on Monday, October 7th. Sanford C. Bernstein decreased their price objective on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a report on Wednesday, October 9th. Finally, Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and an average price target of $125.18.

Canadian National Railway Price Performance

Canadian National Railway stock traded down $1.17 during midday trading on Thursday, hitting $110.82. 1,749,915 shares of the company's stock were exchanged, compared to its average volume of 1,114,675. The company has a market cap of $69.79 billion, a P/E ratio of 17.76, a PEG ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The stock has a 50-day moving average price of $116.02 and a two-hundred day moving average price of $119.72. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway's payout ratio is currently 39.26%.

Institutional Investors Weigh In On Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of CNI. 1832 Asset Management L.P. lifted its holdings in Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock worth $1,106,361,000 after buying an additional 674,536 shares during the period. Capital International Investors boosted its position in shares of Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company's stock valued at $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd raised its holdings in Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company's stock worth $1,017,315,000 after purchasing an additional 99,716 shares in the last quarter. Fiera Capital Corp lifted its position in Canadian National Railway by 13.3% during the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company's stock valued at $643,503,000 after buying an additional 638,817 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Canadian National Railway by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company's stock valued at $570,667,000 after buying an additional 120,453 shares in the last quarter. 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.