Raymond James Has Negative Forecast for CNI FY2024 Earnings

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at Raymond James decreased their FY2024 earnings per share estimates for Canadian National Railway in a research note issued on Monday, January 27th. Raymond James analyst S. Hansen now expects that the transportation company will post earnings of $4.93 per share for the year, down from their prior estimate of $5.31. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.15 per share. Raymond James also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.28 EPS, Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.35 EPS, Q3 2025 earnings at $1.34 EPS, Q4 2025 earnings at $1.40 EPS and FY2026 earnings at $6.18 EPS.

Other equities research analysts have also issued research reports about the company. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Stifel Nicolaus upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and decreased their target price for the company from $132.00 to $120.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Bank of America decreased their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway has an average rating of “Moderate Buy” and an average target price of $124.02.

Canadian National Railway Trading Down 0.5 %

Shares of Canadian National Railway stock opened at $105.02 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a fifty day moving average price of $104.70 and a 200 day moving average price of $111.12. Canadian National Railway has a 1 year low of $98.96 and a 1 year high of $134.02. The stock has a market cap of $66.04 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%.

Hedge Funds Weigh In On Canadian National Railway

Hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI raised its holdings in Canadian National Railway by 46.5% in the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after acquiring an additional 2,137,948 shares during the last quarter. Canoe Financial LP purchased a new stake in shares of Canadian National Railway during the 4th quarter valued at approximately $216,943,000. Point72 Asset Management L.P. acquired a new position in Canadian National Railway in the third quarter valued at approximately $159,907,000. Wellington Management Group LLP grew its position in Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after acquiring an additional 790,420 shares during the period. Finally, Toronto Dominion Bank increased its stake in Canadian National Railway by 64.5% during the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock worth $174,813,000 after acquiring an additional 584,832 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.