Canadian National Railway

CNI

Market cap $68.6B

CNI faces rising costs, weak liquidity and earnings cuts, with estimates trimmed and an industry rank in the bottom 20%, dimming its investment appeal.

Canadian National Railway Company (CNR:CA) Presents at Citi's Global Industrial Tech & Mobility Conference 2026 Transcript

Canadian National Railway Company (CNR:CA) Presents at Barclays 43rd Annual Industrial Select Conference Transcript

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MONTREAL, Feb. 05, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today its second-best January on record for grain movement, shipping more than 2.72 million metric tonnes of grain from Western Canada. This follows the company's all-time January record of 2.85 million metric tonnes set in 2020.

CNI beats Q4 earnings and revenue estimates, increases quarterly dividend; the stock has jumped 2.8% since the Jan. 30 release.

Canadian National Railway offers stability and quality, outperforming the S&P 500 amid recent market volatility and AI-driven sector disruption. Management guides for flat 2026 volumes but expects EPS and free cash flow growth via pricing, productivity, and cost discipline; capex will decline by C$500 million. CNI trades below historical and peer multiples, with a strong balance sheet, active buybacks, and a well-covered, growing dividend.

MONTREAL, Feb. 04, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that the Company's 2025 Annual Financial Statements, Notes thereto and Management's Discussion and Analysis, and its 2025 Annual Information Form and Form 40-F, have been filed with Canadian and U.S. securities regulators and are now available in the “Investors” section of its website, www.cn.ca/investors. Printed copies of CN's 2025 Annual Financial Statements, Notes thereto and Management's Discussion and Analysis will also be available to shareholders free of charge upon request.

Canadian National Railway (CNR:CA) remains a hold as volume stabilization and capital returns offset weak growth prospects. Q4 2025 saw revenue growth resume, with adj. EPS of C$2.08 beating consensus, but gains were narrow and mix remains unfavorable. FY2026 guidance for flat Revenue Ton-Miles and negative mix, combined with new cost headwinds, cap near-term earnings and re-rating potential.

My top 10 dividend watchlist targets a 12% long-term CAGR with a higher yield than VYM and SPY, focusing on quality and value. January 2026 saw the watchlist gain 1.12%, trailing VYM and SPY but maintaining a strong 14.63% annualized return since inception. Three portfolio variants—original, quality, and value—offer distinct tradeoffs between yield, historical growth, and potential undervaluation.