Canadian Pacific Railway reports after the market closes on October 28. Analysts expect earnings and revenue to rise from a year ago, but CP’s recent results show that an estimate beat is far from certain.
Canadian Pacific Railway Ltd. (TSX: CP; CP.TO) will report results for the quarter ended September 30, 2026. The consensus forecast is C$1.33 per share in earnings and C$4.08 billion in revenue, up 20.9% and 11.6% year over year. The EPS estimate has risen from C$1.31 over the past month, with five upward revisions and none downward. That’s a positive sign, but freight volumes, revenue mix and operating efficiency will matter more than the forecast alone.
Recent earnings trend
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Canadian Pacific Railway Ltd
CP.TO
CP.TO
Canadian Pacific Railway Ltd
WealthAwesomeMarket cap
$110.34B
P/E
29.2x
Div. yield
0.75%
Div. / share
$0.95
52W high
$133.09
52W low
$95.67
1W change
+1.65%
Beta
1.22
Analyst Price Targets
Based on analyst covering CP · as of Oct 16, 2026
Wall Street analysts forecast CP stock price to rise 11.4% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$139.79
+11.4% Upside
Previously C$139.74 on Oct 6, 2026
Current Price
C$125.52
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 CP's historical volatility
30-Day Vol
16.6%
Annualized
90-Day Vol
19.5%
Annualized
Trend (90d)
-12.0%
Annualized drift
90d Mean
C$120.27
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$123.74 | C$116.86 – C$131.03 |
| 60 trading days | C$121.99 | C$112.51 – C$132.27 |
| 90 trading days | C$120.27 | C$108.92 – C$132.79 |
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: 20 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-28 | — | 1.3100 | — |
| 2026-06-30 | 2026-07-29 | 1.2700 | 1.2400 | +2.4% |
| 2026-03-31 | 2026-04-29 | 1.0400 | 1.0700 | -2.8% |
| 2025-12-31 | 2026-01-28 | 1.3300 | 1.3500 | -1.5% |
| 2025-09-30 | 2025-10-29 | 1.1000 | 1.1100 | -0.9% |
| 2025-06-30 | 2025-07-30 | 1.1200 | 1.1300 | -0.9% |
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Investor takeaway: The report will show whether CP can turn revenue growth into faster earnings growth while keeping operations efficient. Analysts expect EPS of C$1.33, within a range of C$1.27 to C$1.43, and revenue of C$4.08 billion. CP has beaten earnings estimates once in its last four reported quarters. The growth forecast and recent estimate increases offer useful context, but they don’t guarantee a beat.
C$1.33 per share
That’s the consensus EPS estimate for the September quarter, based on forecasts from 20 analysts. Estimates range from C$1.27 to C$1.43, up from C$1.31 a month ago. A year earlier, EPS was C$1.10. Seventeen analysts expect revenue of C$4.08 billion.
In CP’s last four comparable quarters, it reported EPS of C$1.27 against an estimate of C$1.24, C$1.04 against C$1.07, C$1.33 against C$1.35, and C$1.10 against C$1.11. That’s one beat in four quarters.
Bull case
Analysts expect solid year-over-year growth, and EPS estimates have risen over the past month. If freight demand and pricing support revenue while CP keeps costs in check, earnings could build on the latest quarter, when the company reported C$1.27 per share against a C$1.24 estimate.
Bear case
CP has missed EPS estimates in three of its last four reported quarters, including the two quarters before its latest, modest beat. Revenue growth may not deliver the expected earnings increase if operating costs rise or freight mix puts pressure on margins. Investors will want to see that growth is translating into efficient operations, not just higher sales.
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