As Canadian Natural Resources Ltd gears up for its next earnings report, investors are keenly watching whether it can maintain its impressive track record of beating estimates.
Canadian Natural Resources Ltd (CNQ) is set to release its second-quarter earnings on August 6, 2026, before the market opens. The anticipation surrounding this report is palpable, especially given the company’s history of surpassing earnings expectations. With analysts expecting significant year-over-year growth, all eyes are on CNQ to see if it can deliver yet again.
Recent earnings trend
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Canadian Natural Resources Ltd
CNQ.TO
CNQ.TO
Canadian Natural Resources Ltd
WealthAwesomeMarket cap
$135.43B
P/E
11.5x
Div. yield
3.58%
Div. / share
$2.39
52W high
$70.24
52W low
$38.80
1W change
+4.00%
Beta
0.88
Analyst Price Targets
Based on analyst covering CNQ
Wall Street analysts forecast CNQ stock price to rise 8.2% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$70.29
+8.2% Upside
Current Price
C$64.93
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CNQ's historical volatility
30-Day Vol
32.6%
Annualized
90-Day Vol
36.4%
Annualized
Trend (90d)
+26.5%
Annualized drift
90d Mean
C$71.37
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$67.01 | C$59.89 – C$74.98 |
| 60 trading days | C$69.16 | C$59.00 – C$81.06 |
| 90 trading days | C$71.37 | C$58.76 – C$86.70 |
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.
Analyst coverage: 8 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-06 | — | 2.0100 | — |
| 2026-03-31 | 2026-05-07 | 1.1700 | 1.0600 | +10.4% |
| 2025-12-31 | 2026-03-05 | 0.8200 | 0.7000 | +17.1% |
| 2025-09-30 | 2025-11-06 | 0.8600 | 0.8100 | +6.2% |
| 2025-06-30 | 2025-08-07 | 0.7100 | 0.6900 | +2.9% |
| 2025-03-31 | 2025-05-08 | 1.1600 | 1.0800 | +7.4% |
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Investor takeaway: Investors should closely monitor CNQ's upcoming earnings report, particularly in light of the significant year-over-year growth expected in both earnings and revenues. However, the recent downward revision in EPS estimates raises questions about the sustainability of this growth trajectory.
Consensus EPS Estimate at $1.43, 180.4% Year-over-Year Growth Expected
Analysts anticipate a substantial increase in CNQ’s earnings per share, reflecting robust operational performance and favorable market conditions for oil prices.
Bull case
The optimistic outlook for CNQ is based on higher prices for its premium Synthetic Crude Oil and strong production volumes. These factors could drive impressive revenue growth and help maintain margins, even as costs rise.
Bear case
On the flip side, increasing operational costs and inflationary pressures could hurt CNQ’s profitability, potentially causing it to fall short of the consensus EPS estimate.
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Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
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