Canadian National Railway (NYSE: CNI – Get a rating) (TSE:CNR) – Research analysts at National Bank Financial have raised their Q3 2023 earnings per share estimates for Canadian National Railway stocks in a research note released to investors on Tuesday, October 25. National Bank Financial analyst C. Doerksen now expects the transportation company to post earnings of $1.57 per share for the quarter, up from its previous estimate of $1.55. The consensus estimate for Canadian National Railway’s current annual earnings is $6.46 per share. National Bank Financial also released estimates for Canadian National Railways’ fourth quarter 2023 earnings at $1.62 EPS.
A number of other research analysts also commented on the company. Barclays raised its price target on Canadian National Railways from $110.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company raised its price target on Canadian National Railways from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report Wednesday. Stephens raised his price target on Canadian National Railways to $130.00 and gave the company an “outperform” rating in a Wednesday, July 27 research report. Susquehanna Bancshares lowered its price target on Canadian National Railways from $129.00 to $109.00 and set a “neutral” rating for the company in a Wednesday, September 28 research report. Finally, Credit Suisse Group raised its price target on Canadian National Railways from $124.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday. Eleven equity research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $141.55.
Canadian National Railway Company drops 1.2%
CNI opened at $117.99 on Friday. The company has a 50-day simple moving average of $115.83 and a two-hundred-day simple moving average of $116.77. The company has a market capitalization of $80.19 billion, a price-earnings ratio of 21.45, a PEG ratio of 1.79 and a beta of 0.86. The company has a debt ratio of 0.55, a current ratio of 0.71 and a quick ratio of 0.55. Canadian National Railways has a one-year low of $103.79 and a one-year high of $137.19.
Canadian National Railway (NYSE: CNI – Get a rating) (TSE:CNR) last released its results on Tuesday, July 26. The transportation company reported earnings per share of $1.51 for the quarter, beating analysts’ consensus estimate of $1.37 by $0.14. Canadian National Railway Company earned a return on equity of 22.03% and a net margin of 29.99%. The company posted revenue of $3.40 billion in the quarter, versus analyst estimates of $3.17 billion.
Canadian National Railway Institutional Trade
Several hedge funds and other institutional investors have recently changed their positions in CNI. Hanson & Doremus Investment Management increased its stake in Canadian National Railway shares by 294.1% in the 1st quarter. Hanson & Doremus Investment Management now owns 201 shares of the transportation company worth $27,000 after buying 150 more shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Canadian National Railway by 108.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 263 shares of the transportation company valued at $28,000 after buying 137 more shares in the last quarter. NuWave Investment Management LLC purchased a new stake in Canadian National Railway during Q2 for $32,000. Clear Street Markets LLC bought a new position in Canadian National Railway stock in Q2 worth $34,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Canadian National Railway stock in Q2 for $34,000. Hedge funds and other institutional investors hold 79.45% of the company’s shares.
Canadian National Railway Company cuts its dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29. Investors of record on Thursday, December 8 will receive a dividend of $0.53. The ex-date of this dividend is Wednesday, December 7. This represents an annualized dividend of $2.12 and a dividend yield of 1.80%. Canadian National Railway’s payout ratio is currently 40.55%.
Profile of Canadian National Railway Company
Canadian National Railway Company, together with its subsidiaries, is engaged in rail and related transportation business. The Company’s product portfolio includes petroleum and chemicals, grains and fertilizers, coal, metals and minerals, forest products, intermodal and automotive products serving exporters, importers, retailers, farmers and manufacturers.
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