|Bid||89.99 x 800|
|Ask||95.47 x 800|
|Day's Range||93.21 - 94.19|
|52 Week Range||70.36 - 95.08|
|Beta (3Y Monthly)||1.03|
|PE Ratio (TTM)||15.96|
|Forward Dividend & Yield||1.60 (1.72%)|
|1y Target Est||N/A|
Downtrend in US Rail Traffic Persisted for 16th Straight Week(Continued from Prior Part)CNI’s rail traffic grewCanadian National Railway (CNI) registered a 1.3% YoY (year-over-year) improvement in its overall rail traffic in Week 19. The company
Canadian rail volumes rose again year-to-date for the week ended May 11, while U.S. rail volumes continued downward amid U.S. tariff uncertainty and a fuzzy economic picture. Of that total, Canadian rail operations moved 1.54 million carloads year-to-date, which is 2.7 percent more than the same period last year, and 1.3 million intermodal units, which is a 2 percent increase from a year ago.
Jim Blaze is a railroad career economist with an engineering background and a strategic analysis outlook. Jim's career spans 21 years with Consolidated Rail Corporation (CONRAIL), 17 years with the rail engineering firm Zeta Tech Associates, 7 years with the State of Illinois Department of Transportation in Chicago urban goods movement research, and two years studying what to do with the seven bankrupt and unrecognizable Northeast railroads at the federal agency USRA. Now primarily a teacher and writer, Jim likes to focus on contrarian aspects of the railroad industry.
A Canadian National (NYSE: CNI) subsidiary has acquired the intermodal assets of Alberta-based H&R Transport, a company that specializes in the over-the-road, temperature-controlled service. The acquisition will expand CNI's presence in moving consumer goods, and is part of the company's broader effort to offer more end-to-end rail supply chain options, according to railroad president and chief executive officer J.J. Ruest. Terms of the transaction were not disclosed but CNI and H&R Transport have had a longstanding relationship, Canadian National said.
Canadian National said on May 8 that it moved an all-time record 2.72 million metric tonnes in April, compared to a three-year average of 2.23 million metric tonnes. Canadian Pacific moved 2.643 million metric tonnes of Canadian grain and grain products in April, an all-time record that beat a previous record from October 2018, the company said on May 3. CP is planning to use 8,500-foot trains to carry a minimum of 134 grain hopper cars, which CP says will carry 20 percent more grain that the 112-car grain trains.
US Rail Traffic Weakness Continued for the 14th Week(Continued from Prior Part)Rail trafficCanadian National Railway (CNI) recorded a 1.9% YoY (year-over-year) improvement in its overall rail traffic in Week 17. The company hauled 120,400 railcars,
Higher rail freight revenues lift Canadian National's (CNI) Q1 results. However, rise in operating expenses partly mar results.
Canada's economy contracted by 0.1 percent in February, which included the single worst drop in the transportation and warehousing sector in nearly eight years. The gross domestic product data from Statistics Canada, released on April 30, followed an unexpectedly strong January of 0.3 percent growth. The biggest drag on the economy came from mining and oil and gas extraction, which dropped by 1.6 percent, led by 4.4 percent decline in mining and quarrying.
Canadian National Railway Company (NYSE: CNI) reported adjusted earnings per share (EPS) of C$1.17 (a Canadian dollar is currently valued at $0.74) per share for the first quarter 2019, 17 percent better than the same period a year ago. This result excludes $0.09 per share in increased depreciation and amortization expense related to its positive train control system. CNI reported an 11 percent year-over-year increase in total revenue to C$3.544 billion as the company experienced a 1 percent increase in carloads and an 11 percent increase in revenue per carload.
Canadian National Railway Co on Monday became the latest railroad operator to blame higher operating expenses due to prolonged extreme cold weather for a lower-than-expected quarterly profit. Rail traffic in Canada was dented by a severe winter, forcing rail operators to cease work. Operating expenses jumped 14 percent in the first quarter, also due to a crude oil train derailment in Western Canada.
The Montreal-based company said it had net income of 81 cents per share. Earnings, adjusted for non-recurring costs, came to 88 cents per share. The results did not meet Wall Street expectations. The average ...
Canadian National Railway Co reported a 6 percent jump in quarterly profit on Monday, as the country's largest railroad operator shipped higher volumes of petroleum and chemical products. The company's ...
Container truckers in British Columbia will see their hourly and trip rates increase by 2 percent as part of a package of reforms implemented by the provincial government. It includes truckers at the Port of Vancouver, who went on strike in 2014 over wages and wait times. "The rate structure will help ensure fair compensation for drivers and increases will vary depending on the trip and the hours worked," British Columbia's ministry of transportation said in a statement.
If we don't, then we lose 40 to 45 percent," said Marc Bédard, the president of the Lion8's manufacturer, Lion Electric. Lion Electric president Marc Bédard says the lion8 is designed to be a workhorse for urban deliveries.
Canadian National (NYSE: CNI) plans to appeal a determination by a federal regulator that the railway breached rail service obligations last fall at the congestion-prone Port of Vancouver. The Canadian Transportation Agency (CTA) found that CNI breached its level of service obligations because CNI said in September 2018 that it would impose embargoes on wood pulp shipments. CTA contends this was several months before rail congestion actually emerged at the Port of Vancouver, according to an April 15 statement.
Just a year ago, FedEx (NYSE:FDX) stock was flying high, even reaching $270 per share at one point. Since then, however, FDX stock has been grounded. Economic concerns have investors fleeing FedEx and some other transportation stocks.However, not all transports have been hit equally. In fact, some of the rails, like Union Pacific (NYSE:UNP) and Canadian National Railway (NYSE:CNI) are making fresh 52-week highs. This sets up an interesting pair trade opportunity to sell the rails and buy the truck and air delivery service competitors.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut first, what has gone wrong for Fedex stock? Slowing Economic OutlookOver the past three quarters, FedEx has lowered its FY '19 guidance from a starting point of $17.50 into the $16s, and now, of the latest update, just $15.50. That's an 11% decline for this year's outlook in a relatively brief period of time. The guidance range for Q4 remains fairly wide as well, suggesting that management is not confident on how this quarter will turn out.The company blamed several factors for the dramatic slowdown in the earnings outlook. The most important of these appears to be international markets. Non-U.S. revenues failed to come in like FedEx had been expecting. Regardless, management is still upbeat for fiscal year 2020, which kicks off in June of this year. * 10 Stocks That Are Screaming Buys Right Now Some of this is hard to predict. The trade war, for example, has undoubtedly pressured FedEx's business. Many analysts still expect positive developments on this front within the next couple months. In fact, much of the recent stock market rally has been built on rumors that a China-U.S. deal is drawing near. However, FedEx's results could remain choppy for a bit until a more global economic upswing takes root. Big OverreactionThe crux of the matter here, however, is that the market has drastically overreacted. The company cut 2019 guidance by around 10% and the stock lost more than a third of its value. That's a highly disproportionate response to the news. That said, you can see why the market reacted this way. FedEx cut guidance each of the last two quarters, rather than delivering all the bad news at once, giving the impression that things are steadily worsening.Still, the overall magnitude of the drop shouldn't be exaggerated. On top of that, economic indicators should start picking up again. The Fed has pivoted from a strongly hawkish position back to neutral. Letting easier credit into the economy should help consumer confidence, and thus enable FedEx's business to pick up.It's also important to remember that FedEx has tremendous franchise value due to its powerful brand and entrenched infrastructural advantages. The value of the business doesn't swing 30% in a year simply because it delivers fewer packages. FDX stock is sharply overreacting to minor economic swings that most people will forget within a couple of years. Cheap Versus the RailsThe railroad stocks are looking rather expensive at the moment. Most of the sector is trading at or near new 52-week highs and sporting fairly lofty price-to-earnings ratios for a typically sedated sector. Canadian National Railway is at 21x trailing, 18x forward earnings, for example. Union Pacific is at 21x trailing and 17x forward earnings. CSX (NYSE:CSX) is at 20x and 16x, respectively. Against that backdrop, FDX stock really pops at 16x trailing and 12x forward earnings, and that's even after the stock rallied from $170 to $195 recently.It simply doesn't make a whole lot of sense intuitively that FedEx is doing so poorly while the rails are experiencing boom times. Sure, railroads tend to carry more commodity goods, whereas FedEx has more retail and consumer traffic. Still, though, as the economy goes, if consumers aren't buying as much stuff, the demand for raw commodities will drop as well. Transports tend to trade together as a sector; it's unlikely that FedEx stock can continue to drastically underperform the rails for long. * 7 Energy Stocks to Buy as Oil Booms Bears on FDX stock can make one counterargument to this line of reasoning. FedEx acquired TNT Express in 2016, which greatly enhanced its market presence in Europe. The European economy remains among the weakest of the major developed players in the world. You can argue that FedEx is unduly struggling due to its heightened European exposure. That said, the rails have exposure to other economies as well, particularly Canada and China, which are not so hot right now either. It hardly seems fair to blame FedEx's underperformance on non-U.S. exposure. FDX Stock VerdictI personally started buying FDX stock in January at $176 per share, and I've added to my position since then. While another correction to that level would set up an amazing opportunity to take a position in this global freight leader, the current price is still more than fair.FDX stock should trade at $250 or higher based on both comparable earnings of other transportation companies and where FDX stock traded last year. Yes, there was a brief recession scare late last year. But it's over now and the Fed has reopened the cheap money taps again. Don't miss your chance to get on-board with FDX stock before it makes a full recovery.At the time of this writing, Ian Bezek owned FDX stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post FedEx Stock Is a Strong Buy Under $200 appeared first on InvestorPlace.
Market Voices – for a number of market experts. Jim's career spans 21 years with Consolidated Rail Corporation (CONRAIL), 17 years with the rail engineering firm Zeta Tech Associates, 7 years with the State of Illinois Department of Transportation in Chicago urban goods movement research, and two years studying what to do with the seven bankrupt and unrecognizable Northeast railroads at the federal agency USRA. Six of the major North American freight railroads begin reporting their first quarter 2019 results in the near-term.
Canadian National (NYSE: CNI ) yesterday unveiled plans to invest US$505 million in capital projects along its U.S. corridor spanning from Wisconsin to Louisiana. In Illinois, CNI plans to spend $190 ...
Canadian National (NYSE: CNI) laid out plans to invest C$615 million this year in network infrastructure in eastern Canada amid wider efforts by stakeholders to revamp Canada's transportation infrastructure and support the nation's export markets. The railway is spending $320 million in Ontario on several expansion projects, including adding capacity near CNI's Brampton intermodal terminal by building a satellite intermodal facility, investing in infrastructure and equipment at the Brampton terminal and making improvements at CNI's Toronto auto compound. CNI will also spend $245 million in Quebec, $45 million in New Brunswick and $5 million in Nova Scotia to implement technologies such as autonomous track inspection, distributed air cars and automated inspection portals.
Canada's Supreme Court dismissed an appeal from Canada National Railway (NYSE: CNI) today, forcing it to reopen a century-old bridge to vehicle traffic. The country's highest court ended a long-running legal battle between CN and the city of Thunder Bay. It stems from a 2013 fire at the Saint James Street Swing Bridge, which links Thunder Bay to the Fort William First Nation.