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 Stock Up 1.6 %

CNI traded up $1.92 during midday trading on Thursday, hitting $124.78. 1,450,389 shares of the company’s stock traded hands, compared to its average volume of 1,024,670. The company has a market cap of $79.70 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The stock’s fifty day simple moving average is $129.58 and its 200-day simple moving average is $122.22. 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 has a one year low of $103.96 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 EPS 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. As a group, equities analysts anticipate that Canadian National Railway will post 5.93 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed 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 is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.00%. Canadian National Railway’s dividend payout ratio is currently 40.03%.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a hold rating and a $130.00 target price for the company. CIBC lowered Canadian National Railway from a sector outperform rating to a neutral rating in a research note on Wednesday, January 10th. Bank of America upgraded Canadian National Railway from a neutral rating to a buy rating and upped their target price for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Stifel Nicolaus increased their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a hold rating in a research note on Friday, April 12th. Finally, TD Securities lowered Canadian National Railway from a buy rating to a hold rating in a research note on Monday, January 8th. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Canadian National Railway presently has an average rating of Hold and a consensus target price of $147.86.

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.