Q4 2023 EPS Estimates for Canadian National Railway (NYSE:CNI) Raised by Analyst
Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) – Stock analysts at Zacks Research increased their Q4 2023 EPS estimates for Canadian National Railway in a research report issued on Monday, December 4th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $1.58 per share for the quarter, up from their prior estimate of $1.57. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.32 per share.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its earnings results on Tuesday, October 24th. The transportation company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.03). The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. Canadian National Railway had a return on equity of 23.53% and a net margin of 29.08%.
Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Canadian National Railway from C$167.00 to C$159.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. Stifel Nicolaus decreased their price objective on shares of Canadian National Railway from $125.00 to $122.00 and set a “hold” rating for the company in a research note on Tuesday, October 3rd. StockNews.com assumed coverage on shares of Canadian National Railway in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Scotiabank decreased their price objective on shares of Canadian National Railway from C$172.00 to C$170.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 27th. Finally, National Bank Financial decreased their price objective on shares of Canadian National Railway from C$171.00 to C$168.00 in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $143.00.
Get Our Latest Analysis on Canadian National Railway
Canadian National Railway Stock Performance
NYSE CNI opened at $117.24 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.56. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $129.47. The company has a market capitalization of $76.02 billion, a PE ratio of 21.43, a P/E/G ratio of 3.26 and a beta of 0.92. The company has a fifty day moving average of $110.14 and a two-hundred day moving average of $113.69.
Canadian National Railway Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be issued a dividend of $0.5811 per share. The ex-dividend date is Wednesday, December 6th. This represents a $2.32 annualized dividend and a yield of 1.98%. Canadian National Railway’s dividend payout ratio is currently 41.86%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Canadian National Railway by 0.9% in the first quarter. Wellington Management Group LLP now owns 20,375,062 shares of the transportation company’s stock valued at $2,400,975,000 after buying an additional 188,460 shares in the last quarter. Vanguard Group Inc. increased its holdings in Canadian National Railway by 2.8% in the first quarter. Vanguard Group Inc. now owns 20,007,681 shares of the transportation company’s stock valued at $2,683,831,000 after buying an additional 554,280 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Canadian National Railway by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 13,819,790 shares of the transportation company’s stock valued at $1,673,162,000 after buying an additional 106,492 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after buying an additional 625,500 shares in the last quarter. Finally, Jarislowsky Fraser Ltd grew its position in shares of Canadian National Railway by 0.7% in the first quarter. Jarislowsky Fraser Ltd now owns 9,556,511 shares of the transportation company’s stock valued at $1,126,080,000 after purchasing an additional 70,386 shares during the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.
Canadian National Railway Company Profile (Get Free Report)
Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.
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