Canadian National Railway (NYSE:CNI) Updates FY 2024 Earnings Guidance

Canadian National Railway (NYSE:CNI) (TSE:CNR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.940-5.940 for the period, compared to the consensus earnings per share estimate of 5.840. The company issued revenue guidance of -. Canadian National Railway also updated its FY24 guidance to approx CC$8.01 EPS.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNI. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a hold rating in a report on Friday, April 12th. Stephens restated an equal weight rating and issued a $140.00 price objective on shares of Canadian National Railway in a report on Wednesday. Susquehanna upped their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a neutral rating in a report on Wednesday. Barclays upped their price objective on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a hold rating and a $130.00 price objective on the stock. Eighteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $147.86.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $1.92 during midday trading on Thursday, reaching $124.78. 1,450,389 shares of the company traded hands, compared to its average volume of 1,024,670. The firm has a market capitalization of $79.70 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The business has a 50 day moving average of $129.58 and a two-hundred day moving average of $122.22. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.17%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. As a group, research analysts predict that Canadian National Railway will post 5.93 earnings per share 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. Shareholders of record on Friday, June 7th will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.00%. Canadian National Railway’s payout ratio is presently 40.03%.

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.