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Canadian National Railway (NYSE:CNI) Stock, Rapport sur les intérêts à découvert

Canadian National Railway

Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2023, CN generated CAD 16.8 billion in revenue by hauling intermodal containers (23% of consolidated revenue), petroleum and chemicals (19%), grain and fertilizers (19%), forest products (12%), metals and minerals (12%), automotive shipments (6%), and coal (6%). Other items constitute the remaining revenue.

Canadian National Railway Company Common Stock

Canadian National Railway Co

CHINA INTL CAP CORP LTD by China International Capital Corp Ltd

China International Capital Corp Ltd

CENTURIA IND REIT ORD UTS by Centuria Indl Reit

Centuria Industrial REIT

CANADA NICKEL CO INC by Canada Nickel Co Inc

Canada Nickel Co Inc

CHINA INTL MARINE CONTR H by China International Marine Containers Ltd.

China International Marine Containers (Group) Co Ltd

DING YI FENG HLDGS GROUP by DING YI FENG HLDGS GROUP INTERNATIONAL LTD

Ding Yi Feng Holdings Group International Ltd

RBC Capital analyst Walter Spracklin reiterates Canadian National Railway (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CNR#TSX">CNR</a>) with a Outperform and maintains C$179 price target.

News

Price Target

Reiteration

Analyst Ratings

TSX:CNR

RBC Capital Reiterates Outperform on Canadian National Railway, Maintains C$179 Price Target

Citigroup analyst Ariel Rosa upgrades Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) from Neutral to Buy and raises the price target from $126 to $130.

Upgrades

Citigroup Upgrades Canadian National Railway to Buy, Raises Price Target to $130

WIIM

Shares of railway companies are trading higher after Donald Trump won the 2024 presidential election.

Benchmark analyst Nathan Martin reiterates Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Hold.

Benchmark Reiterates Hold on Canadian National Railway

Stephens &amp; Co. analyst Daniel Imbro reiterates Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Equal-Weight and maintains $116 price target.

Stephens & Co. Reiterates Equal-Weight on Canadian National Railway, Maintains $116 Price Target

Stifel analyst Benjamin Nolan maintains Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Hold and raises the price target from $130 to $132.

Stifel Maintains Hold on Canadian National Railway, Raises Price Target to $132

Evercore ISI Group analyst Jonathan Chappell maintains Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a In-Line and lowers the price target from $119 to $116.

Evercore ISI Group Maintains In-Line on Canadian National Railway, Lowers Price Target to $116

Susquehanna analyst Bascome Majors maintains Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Neutral and lowers the price target from $130 to $125.

Susquehanna Maintains Neutral on Canadian National Railway, Lowers Price Target to $125

2024 guidance and long-term financial outlook (1)(2) CN continues to expect to deliver adjusted diluted EPS growth in the low single-digit range and continues to expect to invest approximately C$3.5 billion in its capital program, net of amounts reimbursed by customers. The Company also continues to expect adjusted return on invested capital (ROIC) to be in the 13%-15% range.
Over the 2024-2026 period, CN continues to target compounded annual adjusted diluted EPS growth in the high single-digit range.

Guidance

CN Continues To Expect To Deliver Adj Diluted EPS Growth In The Low Single-Digit Range And Continues To Expect To Invest ~CAD$3.5B In Its Capital Program, Net Of Amounts Reimbursed By Customers; Continues To Expect Adjusted Return On Invested Capital To Be In The 13%-15% Range; Over The 2024-2026 Period, CN Continues To Target Compounded Annual Adj. Diluted EPS Growth In The High Single-Digit Range

Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) reported quarterly earnings of $1.72 per share which beat the analyst consensus estimate of $1.70 by 1.18 percent. The company reported quarterly sales of $4.110 billion which missed the analyst consensus estimate of $4.115 billion by 0.11 percent. This is a 38.29 percent increase over sales of $2.972 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Canadian National Railway Q3 2024 Adj. EPS CAD$1.72 Beats CAD$1.70 Estimate, Sales CAD$4.110B Miss CAD$4.115B Estimate

Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-10-22. Here's what investors need to know before the announcement.
Analysts estimate that Canadian National Railway will report an earnings per share (EPS) of $1.33. 
The market awaits Canadian National Railway's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Performance in Previous Earnings</h3>
The company's EPS missed by $0.06 in the last quarter, leading to a 3.48% drop in the share price on the following day.
Here's a look at Canadian National Railway's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.41</td>
<td>1.25</td>
<td>1.46</td>
<td>1.25</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.35</td>
<td>1.28</td>
<td>1.48</td>
<td>1.26</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-5.0%</td>
<td>-2.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729522917_0.png" alt="eps graph" />
<h3>Performance of Canadian National Railway Shares</h3>
Shares of Canadian National Railway were trading at $113.62 as of October 18. Over the last 52-week period, shares are up 7.2%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CNI/earnings">To track all earnings releases for Canadian National Railway visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Canadian National Railway's Earnings

RBC Capital analyst Walter Spracklin upgrades Canadian National Railway (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CNR#TSX">CNR</a>) from Sector Perform to Outperform and raises the price target from C$169 to C$179.

RBC Capital Upgrades Canadian National Railway to Outperform, Raises Price Target to C$179

Bernstein analyst David Vernon maintains Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Market Perform and lowers the price target from $130.67 to $126.29.

Bernstein Maintains Market Perform on Canadian National Railway, Lowers Price Target to $126.29

Goldman Sachs analyst Jordan Alliger maintains Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Sell and lowers the price target from $131 to $124.

Goldman Sachs Maintains Sell on Canadian National Railway, Lowers Price Target to $124

Citigroup analyst Ariel Rosa initiates coverage on Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Neutral rating and announces Price Target of $125.

Initiation

Citigroup Initiates Coverage On Canadian National Railway with Neutral Rating, Announces Price Target of $125

<a href="https://www.globenewswire.com/Tracker?data=em5dJCQai97Z0HU8-CT7QD5SZoZIQQHxuK2lLzUqf_2txabl6mAwU8_3u3cOjmqtX9zEKUsl0GHtbamTPCsW7WhThjGLP0iJjA766oIAjJSoV_D-PDXLSw1YDrNJPzDM">Duos Technologies Group, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOT#NASDAQ">DUOT</a>) is pleased to announce a new five-year agreement signed with <a href="https://www.globenewswire.com/Tracker?data=P0ttxQyLP2x6P2CY9zaF3bdJFpo__iFSUotodUGit8ZP8Vp6xd6wXO37GLSd2LSm">CN</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) that will enable Duos to offer Machine Vision/AI Wayside Detection Safety Data through a subscription service. For more than five years, CN has used Machine Vision/AI Wayside Detection technology along its network in Canada and the United States. CN has been using this solution to complement current manual inspections, helping maintain its fleet with more efficiency, leading to a safer and more reliable railway. &nbsp;
Duos is the inventor of the Railcar Inspection Portal and holder of ten active U.S. Patents of this cutting-edge solution making continual technical advances since 2010 with 13 portals deployed in Canada, Mexico, and the United States supporting four Class 1s and Amtrak.
Late last year, Duos and Amtrak began a pilot program to test the subscription concept for images. Amtrak's long-distance passenger trains are scanned, and the machine vision images are sent in real time to Amtrak mechanical inspectors who have used the data with excellent results during the testing period.
Beginning this month, Duos will offer shippers and car owners that transit the CN network the opportunity to subscribe to this cutting-edge machine vision safety data. This safety information can be used in various ways to include predictive maintenance, trend analytics, and overall fleet health and maintenance.&nbsp;&nbsp; The intent is to have better maintained railcars that make the network safer and more productive for everyone.

DUOT

CN And Duos Technologies Sign 5-Year Strategic Agreement That Will Enable Duos To Offer Machine Vision/AI Wayside Detection Safety Data Through A Subscription Service

Wells Fargo analyst Christian Wetherbee upgrades Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) from Equal-Weight to Overweight and maintains the price target from $125 to $125.

Wells Fargo Upgrades Canadian National Railway to Overweight, Maintains Price Target to $125

BofA Securities analyst Ken Hoexter downgraded Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) to Neutral from Buy, lowering the price forecast from<a href="https://www.benzinga.com/quote/CNI/analyst-ratings" target="_blank" rel="noreferrer noopener"> $129 to $122 amid &#8220;rising earnings pressure.&#8221;</a>
According to the analyst, the company&#8217;s third-quarter volumes have been affected by ongoing network performance challenges following the labor lockout of Conductor/Engineer staff in August.
The analyst estimates 2024 EPS growth of -0.3%, down from a previous forecast of +2.0%, which is below Canadian National&#8217;s revised low single-digit guidance, reduced from mid-single digits last month.
Hoexter highlights that Canadian National has been grappling with months of labor uncertainty, a four-day shutdown of its Canadian network, and wildfires in Alberta.
The company&#8217;s September volumes were below expectations, showing only a slight year-over-year increase. This was influenced by labor uncertainty, a slower-than-anticipated ramp in Canadian grain, and various service challenges.
Also Read: <a target="_blank" href="https://www.benzinga.com/top-stories/24/08/40515606/2-railway-strikes-3-us-sectors-in-trouble-277b-in-goods-at-stake-as-canadian-unions-call-for-new-con" rel="noreferrer noopener">2 Railway Strikes, 3 US Sectors In Trouble: $277B In Goods At Stake As Canadian Unions Call For New Contracts</a>
Additionally, Metals &amp; Minerals volumes declined by 9% year-over-year, falling short of the analyst&#8217;s previous estimate of -5.5% (now revised to -9%), primarily due to reduced steel demand from sluggish construction activity.
The analyst has revised the third quarter 2024 operating ratio estimate to 63.1%, up from 61.4%, reflecting a 90 basis points deterioration from the second to the third quarter, which is worse than the 80 basis points average improvement seen over the past five years during the same period.
Following a rise in labor costs and congestion in the second quarter, the company has furloughed employees and halted hiring in certain regions as it seeks to address cost issues in the Vancouver corridor, according to the analyst.
Price Action: CNI shares are trading lower by 0.49% to $113.68 at last check Friday.
Image via Canadian National Railway Company
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Canadian National Railways Faces Rising Earnings Pressure And Network Challenges, Analyst Downgrades Stock

B of A Securities analyst Ken Hoexter downgrades Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) from Buy to Neutral and lowers the price target from $129 to $122.

B of A Securities Downgrades Canadian National Railway to Neutral, Lowers Price Target to $122

5 Blue-Chip Bargains Ready To Roar

UBS analyst Thomas Wadewitz maintained a Buy rating on Canadian National Railway (CNI – Research Report) today and set a price target of C$190.00. ...

UBS Sticks to Their Buy Rating for Canadian National Railway (CNI)

Exploring Canadian Opportunities

The Association of American Railroads or AAR, reported U.S. rail traffic for the week ending October 26 . For this week, total U.S. weekly rail tra...

North American rail traffic up 3.1% for the week ending October 26

The Association of American Railroads or AAR, reported U.S. rail traffic for the week ending November 2. For this week, total U.S. weekly rail traf...

North American rail traffic up 5.9% for the week ending November 2

Citi analyst Ariel Rosa upgraded CN (CNI) to Buy from Neutral with a price target of $130, up from $126. The firm says "muted" investor expectation...

CN upgraded to Buy from Neutral at Citi

BlackRock International V.I. Fund Q3 2024 Commentary

The Association of American Railroads or AAR reported U.S. rail traffic for the week ending November 9 . For this week, total U.S. weekly rail traf...

North American rail traffic  down 0.8% for the week ending November 9

BlackRock International Fund Q3 2024 Commentary

The Association of American Railroads or AAR, reported U.S. rail traffic for the week ending November 16. For this week, total U.S. weekly rail tra...

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Canadian National Railway (NYSE:CNI) Stock, Rapport sur les intérêts à découvert

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