FY2024 Earnings Forecast for Canadian National Railway Issued By Desjardins (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Equities research analysts at Desjardins raised their FY2024 earnings per share (EPS) estimates for Canadian National Railway in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst B. Poirier now anticipates that the transportation company will post earnings of $5.88 per share for the year, up from their prior forecast of $5.78. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.93 per share. Desjardins also issued estimates for Canadian National Railway’s FY2025 earnings at $6.53 EPS, FY2026 earnings at $7.30 EPS, FY2027 earnings at $7.97 EPS and FY2028 earnings at $8.78 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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 for the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%.

CNI has been the subject of several other reports. Stifel Nicolaus lifted their price target on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a report on Friday, April 12th. Wells Fargo & Company lifted 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. Susquehanna lifted their price objective on Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup lifted their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Barclays boosted their price target on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Eighteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $148.60.

Canadian National Railway Price Performance

NYSE:CNI opened at $124.78 on Friday. The business’s 50-day moving average price is $129.58 and its 200 day moving average price is $122.22. The firm has a market cap of $79.70 billion, a P/E ratio of 19.90, a PEG ratio of 2.14 and a beta of 0.88. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a quick ratio of 0.47, a current ratio of 0.60 and a debt-to-equity ratio of 0.84.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. Canadian National Railway’s dividend payout ratio is currently 39.71%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNI. Norges Bank bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $769,556,000. Canoe Financial LP boosted its stake in shares of Canadian National Railway by 8,401.1% during the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after acquiring an additional 3,960,049 shares during the period. Capital International Investors lifted its holdings in Canadian National Railway by 63.2% during the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after purchasing an additional 2,951,506 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Canadian National Railway during the 3rd quarter worth approximately $273,243,000. Finally, Wellington Management Group LLP lifted its holdings in Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.