Canadian National Railway reports before the market opens on October 30. Analysts expect adjusted earnings of C$2.03 per share and revenue of C$4.47 billion.
Canadian National Railway Co. (TSX: CNR), also known as CNR.TO, will report results for the quarter ended September 30. Analysts expect earnings per share to rise 10.9% from C$1.83 a year ago, while revenue is forecast to grow 7.2% to C$4.47 billion.
Recent earnings trend
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Canadian National Railway Co
CNR.TO
CNR.TO
Canadian National Railway Co
WealthAwesomeMarket cap
$106.61B
P/E
22.7x
Div. yield
2.08%
Div. / share
$3.60
52W high
$184.25
52W low
$125.06
1W change
+3.45%
Beta
0.99
Analyst Price Targets
Based on analyst covering CNR · as of Oct 20, 2026
Wall Street analysts forecast CNR stock price to rise 7.4% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$189.47
+7.4% Upside
Previously C$189.74 on Oct 19, 2026
Current Price
C$176.47
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CNR's historical volatility
30-Day Vol
18.5%
Annualized
90-Day Vol
18.1%
Annualized
Trend (90d)
-1.5%
Annualized drift
90d Mean
C$175.50
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$176.15 | C$165.27 – C$187.74 |
| 60 trading days | C$175.82 | C$160.67 – C$192.40 |
| 90 trading days | C$175.50 | C$157.17 – C$195.98 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Analyst coverage: 22 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-30 | — | 2.0800 | — |
| 2026-06-30 | 2026-07-24 | 2.0800 | 1.9600 | +6.1% |
| 2026-03-31 | 2026-04-29 | 1.8000 | 1.8100 | -0.6% |
| 2025-12-31 | 2026-01-30 | 2.0800 | 1.9800 | +5.1% |
| 2025-09-30 | 2025-10-31 | 1.8300 | 1.7700 | +3.4% |
| 2025-06-30 | 2025-07-22 | 1.8700 | 1.8700 | +0.0% |
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The EPS estimate has climbed from C$1.99 over the past month. Six analysts raised their estimates, and none lowered theirs. CNR beat estimates in three of its last four quarters, but that doesn’t guarantee another beat.
What investors should watch: Can earnings and revenue growth continue? What will management say about demand, network performance and costs? Estimates from 22 analysts range from C$1.92 to C$2.23 per share, so the C$2.03 consensus is a guide, not a precise forecast. For Canadian investors, the share-price reaction may depend as much on expectations and management’s outlook as on the reported earnings.
C$2.03
That’s the consensus EPS estimate for the September quarter, based on 22 analysts. Their estimates range from C$1.92 to C$2.23. The consensus has risen from C$1.99 over the past 30 days.
Bull case
There are a few positive signs. Analysts have raised their EPS estimates over the past month, and CNR beat earnings estimates in three of its last four quarters. In the latest quarter, ended June 30, the company earned C$2.08 per share, above the C$1.96 estimate.
CNR announced an expansion of its Le Mars transload centre in Iowa on October 27. The project shows how rail connections can support local businesses and supply chains, but there’s no indication it will add meaningfully to earnings this quarter.
Bear case
Another earnings beat isn’t certain. CNR narrowly missed estimates in the March quarter, and the range of forecasts includes results below the C$2.03 consensus. Revenue growth alone won’t tell the whole story. Investors will also want to see how profitable that growth is and hear management’s take on operating conditions.
CNR has a reported P/E ratio of 22.2, so the results and outlook could shape how investors view the stock’s valuation.
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