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

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

Canadian National Railway Trading Down 0.0 %

NYSE:CNI traded down $0.04 on Friday, hitting $124.74. 188,381 shares of the stock were exchanged, compared to its average volume of 1,014,063. The stock has a market capitalization of $79.67 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.14 and a beta of 0.88. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The company’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 posted its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. On average, equities research analysts forecast that Canadian National Railway will post 5.93 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. Canadian National Railway’s payout ratio is currently 39.71%.

Analyst Ratings Changes

Several brokerages recently issued reports on CNI. TD Securities lowered Canadian National Railway from a buy rating to a hold rating in a research report on Monday, January 8th. Susquehanna Bancshares boosted their target price on Canadian National Railway from $115.00 to $143.00 and gave the company a neutral rating in a research note on Monday, January 8th. Barclays boosted their target price on Canadian National Railway from $127.00 to $130.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. Wells Fargo & Company boosted their target price on Canadian National Railway from $110.00 to $125.00 and gave the company an equal weight rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus boosted their target price on Canadian National Railway from $121.00 to $134.00 and gave the company a hold rating in a research note on Friday, April 12th. Eighteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $148.60.

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.