Canadian National Railway (NYSE:CNI) Issues FY 2024 Earnings Guidance

Canadian National Railway (NYSE:CNI) (TSE:CNR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 5.940-5.940 for the period, compared to the consensus estimate of 5.840. The company issued revenue guidance of -. Canadian National Railway also updated its FY24 guidance to approx CC$8.01 EPS.

Canadian National Railway Stock Performance

NYSE CNI traded up $0.07 during mid-day trading on Tuesday, reaching $129.39. 1,617,683 shares of the stock were exchanged, compared to its average volume of 1,001,146. The business’s 50 day moving average is $129.72 and its 200-day moving average is $122.04. The company has a market capitalization of $82.64 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.22 and a beta of 0.88. Canadian National Railway has a 1 year low of $103.96 and a 1 year 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.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Canadian National Railway will post 5.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CNI. Stephens lifted their price target on shares of Canadian National Railway from $122.00 to $135.00 and gave the company an equal weight rating in a research note on Thursday, January 4th. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a hold rating in a research report on Friday, April 12th. Jefferies Financial Group initiated coverage on Canadian National Railway in a research note on Monday, April 8th. They set a hold rating and a $130.00 price objective for the company. Wells Fargo & Company boosted their price target on Canadian National Railway from $110.00 to $125.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. Finally, Barclays lifted their target price on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $147.52.

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.