Brokers Issue Forecasts for Canadian National Railway’s Q2 2022 Earnings (NYSE:CNI)
Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) – Research analysts at Raymond James raised their Q2 2022 earnings per share estimates for shares of Canadian National Railway in a research report issued on Tuesday, July 19th. Raymond James analyst S. Hansen now expects that the transportation company will earn $1.38 per share for the quarter, up from their previous estimate of $1.37. Raymond James has a “Market Perform” rating on the stock. The consensus estimate for Canadian National Railway’s current full-year earnings is $5.44 per share. Raymond James also issued estimates for Canadian National Railway’s Q3 2022 earnings at $1.46 EPS and FY2023 earnings at $6.16 EPS.
Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last posted its quarterly earnings data on Tuesday, April 26th. The transportation company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.04). The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. Canadian National Railway had a return on equity of 19.71% and a net margin of 33.00%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS.
A number of other analysts have also recently commented on CNI. Citigroup lowered their price objective on shares of Canadian National Railway from $140.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Barclays lowered their target price on Canadian National Railway from $120.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. BMO Capital Markets upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating and set a $170.00 target price for the company in a report on Wednesday, May 18th. JPMorgan Chase & Co. lowered their target price on Canadian National Railway from C$162.00 to C$148.00 in a report on Tuesday, July 12th. Finally, StockNews.com started coverage on Canadian National Railway in a report on Thursday, March 31st. They set a “hold” rating for the company. Seventeen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $143.12.
Canadian National Railway Stock Performance
Shares of Canadian National Railway stock opened at $115.43 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.67 and a current ratio of 0.84. Canadian National Railway has a 52 week low of $100.66 and a 52 week high of $137.19. The firm has a fifty day moving average of $112.23 and a two-hundred day moving average of $120.19. The stock has a market capitalization of $79.29 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.88 and a beta of 0.81.
Institutional Investors Weigh In On Canadian National Railway
Several hedge funds have recently bought and sold shares of CNI. Ahrens Investment Partners LLC acquired a new stake in Canadian National Railway during the fourth quarter worth approximately $27,000. Hanson & Doremus Investment Management lifted its position in Canadian National Railway by 294.1% during the first quarter. Hanson & Doremus Investment Management now owns 201 shares of the transportation company’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in Canadian National Railway during the fourth quarter worth approximately $30,000. Holloway Wealth Management LLC lifted its position in Canadian National Railway by 187.5% during the first quarter. Holloway Wealth Management LLC now owns 230 shares of the transportation company’s stock worth $31,000 after acquiring an additional 150 shares during the last quarter. Finally, Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Canadian National Railway during the fourth quarter worth approximately $32,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.
Canadian National Railway Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 9th were paid a $0.586 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.34 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, June 8th. Canadian National Railway’s dividend payout ratio (DPR) is 42.65%.
About Canadian National Railway
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company’s portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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