What is Zacks Research's Forecast for TSE:CNR Q2 Earnings?

Key Points

• Zacks Research lowered its Q2 2026 earnings estimate for Canadian National Railway to C$1.89 per share from C$1.96, signaling a slightly weaker near-term outlook.
• The firm also trimmed multiple forward EPS forecasts across 2026–2028, though it still sees earnings growth over time, with FY2027 EPS at C$8.71 and FY2028 EPS at C$9.38.
• Canadian National Railway recently reported C$1.80 EPS on revenue of C$4.38 billion, while analysts overall still rate the stock Moderate Buy with an average target price of C$158.00.

Canadian National Railway (TSE:CNR - Free Report) NYSE: CNI - Analysts at Zacks Research cut their Q2 2026 earnings estimates for shares of Canadian National Railway in a research report issued on Wednesday, May 13th. Zacks Research analyst Team now anticipates that the company will post earnings per share of $1.89 for the quarter, down from their prior estimate of $1.96. The consensus estimate for Canadian National Railway's current full-year earnings is $8.26 per share. Zacks Research also issued estimates for Canadian National Railway's Q3 2026 earnings at $1.99 EPS, Q4 2026 earnings at $2.16 EPS, FY2026 earnings at $7.84 EPS, Q1 2027 earnings at $2.19 EPS, Q2 2027 earnings at $2.11 EPS, Q3 2027 earnings at $2.13 EPS, Q4 2027 earnings at $2.28 EPS, FY2027 earnings at $8.71 EPS, Q1 2028 earnings at $2.26 EPS and FY2028 earnings at $9.38 EPS.

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI last released its quarterly earnings results on Wednesday, April 29th. The company reported C$1.80 earnings per share (EPS) for the quarter. Canadian National Railway had a net margin of 27.23% and a return on equity of 21.93%. The firm had revenue of C$4.38 billion for the quarter.

A number of other research firms have also recently issued reports on CNR. JPMorgan Chase & Co. lifted their price target on shares of Canadian National Railway from C$147.00 to C$153.00 in a research note on Tuesday, April 7th. Sanford C. Bernstein lifted their price target on shares of Canadian National Railway from C$156.00 to C$163.00 in a research note on Tuesday, March 31st. ATB Cormark Capital Markets lifted their price target on shares of Canadian National Railway from C$146.00 to C$150.00 and gave the company a "sector perform" rating in a research note on Friday, April 17th. UBS Group cut shares of Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Finally, TD Securities lowered their target price on shares of Canadian National Railway from C$166.00 to C$164.00 and set a "buy" rating on the stock in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$158.00.

Canadian National Railway Price Performance

Canadian National Railway stock opened at C$154.50 on Friday. The company's fifty day moving average price is C$147.66 and its 200 day moving average price is C$141.00. Canadian National Railway has a 1 year low of C$126.11 and a 1 year high of C$158.25. The stock has a market capitalization of C$93.72 billion, a P/E ratio of 20.36, a P/E/G ratio of 3.38 and a beta of 1.15. The company has a debt-to-equity ratio of 104.96, a quick ratio of 0.58 and a current ratio of 0.67.

Insider Activity

In other news, Director Shauneen Elizabeth Bruder purchased 620 shares of the stock in a transaction dated Thursday, March 26th. The shares were purchased at an average price of C$141.07 per share, with a total value of C$87,463.40. Following the transaction, the director owned 19,071 shares in the company, valued at C$2,690,345.97. The trade was a 3.36% increase in their position. Also, Director Albert Monaco purchased 7,400 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of C$135.68 per share, for a total transaction of C$1,004,032.00. Following the transaction, the director owned 7,400 shares in the company, valued at approximately C$1,004,032. The trade was a ∞ increase in their position. Insiders own 2.64% of the company's stock.

Trending Headlines about Canadian National Railway

Here are the key news stories impacting Canadian National Railway this week:

• Positive Sentiment: Canadian National Railway outperformed the market on Thursday, indicating continued investor interest and relative strength in the stock. Canadian National Railway Co. stock rises Thursday, outperforms market
• Positive Sentiment: A valuation-focused article highlighted Canadian National Railway’s expanding Certified Rail-Ready Sites Program, which may support longer-term growth expectations and strategic positioning. A Look At Canadian National Railway’s Valuation As Certified Rail-Ready Sites Program Expands
• Neutral Sentiment: Zacks Research raised its FY2026 earnings estimate slightly to C$7.84 per share from C$7.93 previously, a modest change that does not materially alter the near-term outlook.
• Neutral Sentiment: The same research note kept the company’s longer-term EPS outlook broadly intact, with FY2027 at C$8.71 and FY2028 at C$9.38, implying expectations for continued earnings growth over time.
• Negative Sentiment: Zacks Research lowered several forward EPS estimates, including Q2 2026, Q3 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, and Q1 2028, which could pressure sentiment by signaling softer projected profitability in coming periods.
• Negative Sentiment: FY2027 and FY2028 EPS estimates were also trimmed, suggesting analysts see some moderation in the pace of earnings growth versus prior expectations.

About Canadian National Railway

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

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