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 Performance

Shares of CNI stock traded down $5.66 during trading on Wednesday, reaching $123.74. 1,459,103 shares of the company’s stock traded hands, compared to its average volume of 1,005,659. The company has a market capitalization of $79.03 billion, a P/E ratio of 19.34, a PEG ratio of 2.25 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average is $129.80 and its 200 day moving average is $122.20. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced 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. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Equities research analysts expect that Canadian National Railway will post 5.94 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CNI shares. Barclays increased their target price on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. Benchmark reissued a hold rating on shares of Canadian National Railway in a report on Wednesday. Citigroup increased their price target on shares of Canadian National Railway from $121.00 to $128.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. TD Securities lowered shares of Canadian National Railway from a buy rating to a hold rating in a report on Monday, January 8th. Finally, Stephens reissued an equal weight rating and issued a $140.00 price target on shares of Canadian National Railway in a report on Wednesday. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Canadian National Railway presently has an average rating of Hold and a consensus target price 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.