Atb Cap Markets Looks at Canadian National Railway’s (NYSE:CNI) Q4 2024 Earnings

Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) – Stock analysts at Atb Cap Markets decreased their Q4 2024 earnings estimates for Canadian National Railway in a note issued to investors on Wednesday, September 11th. Atb Cap Markets analyst C. Murray now expects that the transportation company will post earnings of $1.64 per share for the quarter, down from their prior estimate of $1.68. The consensus estimate for Canadian National Railway’s current year earnings is $5.58 per share. Atb Cap Markets also issued estimates for Canadian National Railway’s Q1 2025 earnings at $1.38 EPS.

Canadian National Railway (NYSE:CNI – Get Your Free Report ) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.31.

A number of other analysts also weighed in on CNI. Wells Fargo & Company cut their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Bank of America cut their price target on shares of Canadian National Railway from $132.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Susquehanna cut their price target on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus cut their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Barclays cut their price target on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $137.35, based on data from MarketBeat.com.

View the latest Canadian National Railway stock report

Canadian National Rail Stock Performance

Shares of CNI stock opened at $120.63 on Monday. The stock has a market cap of $76.29 billion, a P/E ratio of 19.24, a PEG ratio of 2.54 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48, and a debt-to-equity ratio of 0.93. The company’s 50-day moving average is $116.27 and its 200-day moving average is $122.43. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Institutional investors are investing in the Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of CNI. Norges Bank acquired a new stake in shares of Canadian National Railway in the 4th quarter valued at about $769,556,000. Capital International Investors raised its position in shares of 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 buying an additional 2,951,506 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Canadian National Railway by 92.4% in the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after buying an additional 2,163,820 shares during the period. Wellington Management Group LLP boosted its position in shares of Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after acquiring an additional 1,907,938 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Canadian National Railway by 4,614.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after acquiring an additional 1,307,689 shares during the period. 80.74% of the shares are held by hedge funds and other institutional investors.

Canadian National Railway cuts dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. The ex-dividend date is Friday, September 6. This represents an annualized dividend of $2.46 and a yield of 2.04%. Canadian National Railway’s payout ratio is currently 39.07%.

About Canadian National Railway

(Get a free report)

Canadian National Railway Company, together with its subsidiaries, engages in rail, intermodal, trucking and shipping and logistics businesses in Canada and the United States. The company provides rail services, which include equipment, custom brokerage, transfer and distribution, business and real estate development, and private car storage services; and intermodal services such as temperature-controlled cargo, port partnerships and logistics parks.

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