Raymond James Weighs in on Canadian National Railway’s Q1 2024 Earnings (NYSE:CNI)

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Stock analysts at Raymond James reduced their Q1 2024 earnings per share estimates for Canadian National Railway in a report issued on Monday, April 22nd. Raymond James analyst S. Hansen now expects that the transportation company will post earnings of $1.26 per share for the quarter, down from their prior estimate of $1.29. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.94 per share. Raymond James also issued estimates for Canadian National Railway’s Q2 2024 earnings at $1.45 EPS.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company upped their price objective 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. Barclays lifted their price target on shares of 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. Jefferies Financial Group initiated coverage on shares of 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. TD Securities cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, CIBC lowered Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $147.86.

Canadian National Railway Price Performance

CNI stock opened at $122.80 on Tuesday. The stock has a 50-day moving average price of $129.68 and a two-hundred day moving average price of $122.20. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The stock has a market cap of $78.43 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Institutional Trading of Canadian National Railway

A number of institutional investors have recently bought and sold shares of CNI. Zullo Investment Group Inc. acquired a new position in Canadian National Railway in the first quarter valued at about $204,000. Simplicity Wealth LLC bought a new position in Canadian National Railway in the first quarter valued at approximately $797,000. Spire Wealth Management raised its position in Canadian National Railway by 10.7% during the first quarter. Spire Wealth Management now owns 5,458 shares of the transportation company’s stock valued at $719,000 after purchasing an additional 526 shares in the last quarter. First Pacific Financial lifted its stake in Canadian National Railway by 2.8% during the first quarter. First Pacific Financial now owns 5,566 shares of the transportation company’s stock worth $733,000 after purchasing an additional 154 shares during the last quarter. Finally, Bfsg LLC boosted its holdings in shares of Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

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.