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

Canadian National Railway (NYSE:CNI) (TSE:CNR) – Investment analysts at Raymond James lowered their Q1 2024 earnings estimates for shares of Canadian National Railway in a research note issued on Monday, April 22nd. Raymond James analyst S. Hansen now anticipates 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 issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates 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%.

CNI has been the topic of several other research reports. Barclays lifted their price objective on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Susquehanna Bancshares upped their price target on shares of Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, January 8th. CIBC lowered shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Jefferies Financial Group assumed 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. Finally, Wells Fargo & Company raised their target price on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $147.86.

Canadian National Railway Trading Down 5.1 %

Shares of CNI opened at $122.80 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The firm has a 50 day moving average price of $129.68 and a 200-day moving average price of $122.20. The firm has a market cap of $78.43 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.25 and a beta of 0.88.

Hedge Funds Weigh In On Canadian National Railway

A number of institutional investors and hedge funds have recently made changes to their positions in CNI. Bfsg LLC increased its holdings in shares of Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC raised its holdings in Canadian National Railway by 766.7% in the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in Canadian National Railway by 241.1% in the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Canadian National Railway by 121.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 202 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in Canadian National Railway during the 4th quarter valued at $46,000. 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.