Atb Cap Markets Comments on Canadian National Railway’s Q3 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Analysts at Atb Cap Markets cut their Q3 2024 earnings per share estimates for shares of Canadian National Railway in a research note issued on Tuesday, July 23rd. Atb Cap Markets analyst C. Murray now anticipates that the transportation company will post earnings of $1.44 per share for the quarter, down from their prior estimate of $1.51. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.80 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.68 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS.

A number of other brokerages have also weighed in on CNI. Susquehanna reduced their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stifel Nicolaus reduced their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research report on Wednesday. Stephens reduced their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their price target on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $138.35.

Canadian National Railway Trading Up 1.8 %

Shares of CNI stock opened at $115.45 on Thursday. The firm has a market capitalization of $73.01 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.21 and a beta of 0.89. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $121.28 and its 200 day simple moving average is $125.48.

Institutional Investors Weigh In On Canadian National Railway

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in shares of Canadian National Railway by 61.1% during the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after purchasing an additional 61,498 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in Canadian National Railway by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock worth $201,351,000 after buying an additional 17,083 shares during the period. YCG LLC raised its stake in Canadian National Railway by 6.0% during the 4th quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock worth $31,418,000 after buying an additional 14,249 shares during the period. Koshinski Asset Management Inc. acquired a new position in Canadian National Railway during the 1st quarter worth approximately $627,000. Finally, Virtu Financial LLC acquired a new position in Canadian National Railway during the 4th quarter worth approximately $816,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.13%. Canadian National Railway’s payout ratio is 39.39%.

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.