Canadian National Railway (NYSE:CNI) Updates FY24 Earnings Guidance

Canadian National Railway (NYSE:CNI) (TSE:CNR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of approx CC$8.01 for the period, compared to the consensus earnings per share estimate of $8.05. Canadian National Railway also updated its FY 2024 guidance to 5.940-5.940 EPS.

Canadian National Railway Trading Up 1.6 %

Shares of CNI traded up $1.92 during trading hours on Thursday, hitting $124.78. The company had a trading volume of 1,450,389 shares, compared to its average volume of 1,024,670. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The firm has a market cap of $79.70 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $129.58 and its 200 day moving average price is $122.22.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.17% and a net margin of 32.81%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. On average, research analysts predict that Canadian National Railway will post 5.93 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. Canadian National Railway’s dividend payout ratio is presently 40.03%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CNI shares. Susquehanna lifted their price objective on Canadian National Railway from $140.00 to $142.00 and gave the company a neutral rating in a research report on Wednesday. CIBC cut Canadian National Railway from a sector outperform rating to a neutral rating in a research report on Wednesday, January 10th. Citigroup boosted their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Jefferies Financial Group began coverage on Canadian National Railway in a research report on Monday, April 8th. They issued a hold rating and a $130.00 price target on the stock. Finally, TD Securities cut Canadian National Railway from a buy rating to a hold rating in a research report on Monday, January 8th. Eighteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $147.86.

About Canadian National Railway

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.