Atb Cap Markets Has Bearish Outlook for CNI FY2024 Earnings

by · The Markets Daily

Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) – Equities researchers at Atb Cap Markets cut their FY2024 earnings per share (EPS) estimates for shares of Canadian National Railway in a report issued on Tuesday, October 22nd. Atb Cap Markets analyst C. Murray now expects that the transportation company will earn $5.29 per share for the year, down from their prior forecast of $5.57. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.50 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q4 2024 earnings at $1.49 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.68 EPS, Q1 2026 earnings at $1.53 EPS, Q2 2026 earnings at $1.64 EPS, Q3 2026 earnings at $1.61 EPS and FY2026 earnings at $6.62 EPS.

Several other equities research analysts have also recently commented on CNI. The Goldman Sachs Group dropped their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday. Sanford C. Bernstein cut their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays lifted their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.10.

Get Our Latest Stock Report on CNI

Canadian National Railway Trading Down 0.2 %

NYSE:CNI opened at $111.99 on Thursday. The business has a fifty day moving average of $116.02 and a 200-day moving average of $119.72. The stock has a market cap of $70.53 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $1.26 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. boosted its stake in Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after purchasing an additional 674,536 shares during the last quarter. Capital International Investors grew its stake in Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd raised its stake in shares of Canadian National Railway by 1.2% during the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock worth $1,017,315,000 after acquiring an additional 99,716 shares in the last quarter. Fiera Capital Corp raised its holdings in Canadian National Railway by 13.3% during the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after buying an additional 638,817 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Canadian National Railway by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after buying an additional 120,453 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Canadian National Railway Company Profile

(Get Free Report)

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.

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