|Bid||73.70 x 1300|
|Ask||73.99 x 2200|
|Day's Range||72.73 - 74.13|
|52 Week Range||48.26 - 76.24|
|PE Ratio (TTM)||10.66|
|Earnings Date||Oct 16, 2018|
|Forward Dividend & Yield||0.88 (1.20%)|
|1y Target Est||75.05|
US-based Genesee & Wyoming (GWR) is a worldwide player in the railroad industry. With over 100 years of history, the company has a presence around the world, including North America, Latin America, Europe, and Australia.
Canadian Pacific Railway (CP) remained in the spotlight in week 36. The railroad was in the second position among railroads with YoY (year-over-year) railcar traffic growth of 8.2% for the week. Kansas City Southern (KSU) remained on top with 11% gains, whereas CSX (CSX) ranked third in terms of overall railcar traffic growth.
Canadian National Railway (CNI) is the number one fright rail in Canada. In week 36, the railroad’s carload traffic declined 0.9% YoY to ~62,900 railcars from ~63,400 units in the same period last year.
Union Pacific Corp. never hired Hunter Harrison to run its sprawling network. The railroad, which until recently had been adding locomotives and crew, plans to use less equipment in a bid to improve its financial performance and service. The strategy being implemented at Union Pacific was espoused by Mr. Harrison, who was running rival CSX Corp. when he died last December.
In an interview with CNBC's "Fast Money" on Tuesday, Todd Gordon of TradingAnalysis.com recommended that investors buy shares of jet maker Boeing Co. ( BA), aerospace and defense company Lockheed Martin Corp. ( LMT) and rail transportation and real estate holding company CSX Corp. ( CSX). "Those [industrial] conglomerates have been very, very weak.
James M. Foote, President and Chief Executive Officer, said, “CSX is proud to operate throughout the southeastern region, states that are home to so many of our dedicated employees, customers and suppliers. The CSX Foundation is also matching employee contributions made to the American Red Cross for disaster relief efforts dollar-for-dollar.
Kansas City Southern (KSU), the US’s smallest class I railroad, continued its blockbuster volume growth journey in week 36. During the week, the railroad’s YoY (year-over-year) intermodal traffic growth of 22.4% was much higher compared to its carload traffic growth of 2.7%.
Eastern US railroad CSX (CSX) posted 5.4% YoY (year-over-year) growth in carload traffic in week 36. Compared to 64,900 railcars excluding intermodal units in the same week last year, CSX moved 68,400 railcars in the comparable period this year. CSX’s carload traffic gains were much higher compared to rival Norfolk Southern’s (NSC) 1.2% YoY gains in week 36. The former’s carload gains were almost double the percentage of US railroads’ 2.6% YoY average gains in the week.
Eastern US rail carrier Norfolk Southern (NSC) posted a 1.2% YoY (year-over-year) increase in carload traffic. The railroad moved 66,000 railcars excluding intermodal units in the week compared to ~65,300 in the same week of 2017.
Western US railroad giant Union Pacific (UNP) reported a 6.4% YoY (year-over-year) increase in carload traffic in week 36. During the week, UNP moved ~91,700 railcars excluding intermodal units compared to ~86,200 in the corresponding period of 2017.
Moody's Investors Service ("Moody's") assigned a Prime-2 (P-2) rating to the new $1.0 billion commercial paper program that CSX Corporation ("CSX") established. The Prime-2 rating reflects the Baa1 senior unsecured debt rating of CSX and the company's good liquidity. The Baa1 senior unsecured rating considers the company's position as one of two major freight railroads in the eastern U.S., operating margins that are likely to continue an upward trajectory, and financial leverage that Moody's expects to be in excess of historical levels of up to 2.5 times, measured by debt/EBITDA.
Major railroad BNSF Railway (BRK.B) reported a 1.5% YoY (year-over-year) rise in its carload traffic in week 36. The Berkshire Hathaway-owned railroad carried ~99,100 railcars excluding intermodal traffic in the week compared to ~97,700 units in week 36 last year.
The AAR (Association of American Railroads) published weekly traffic data on September 12 from the 12 major North American railroads for week 36 (the week ended on September 8). AAR’s weekly freight data is classified into carload traffic and intermodal units. Intermodal units are expressed in containers and truck trailers.
JACKSONVILLE, Fla., Sept. 18, 2018-- CSX Corporation will release third-quarter financial and operating results after the market close on Tuesday, October 16, 2018. This will be followed by a conference ...
From his gruff mentor, "Pisser Bill," to an early attempt to install Harrison as CEO of CSX, Howard Green's biography of former CSX CEO Hunter Harrison is full of new insights into the life and career of the controversial executive.
CHICAGO/LOS ANGELES, Sept 17 (Reuters) - U.S. food companies kept slaughter plants shut on Monday in southeastern states swamped by Hurricane Florence as catastrophic flooding killed nearly 2 million chickens, collapsed the walls of at least two hog manure pits, and made stretches of major roads impassable. Florence, which has dumped up to 36 inches (91 cm) of rain on North Carolina since Thursday, was interrupting supply lines around the state and into neighboring South Carolina. North Carolina is a top U.S. producer of poultry, hogs and tobacco.
Moody's Investors Service ("Moody's") assigned MIP IV Boomerang MergerSub, L.P. ("Tunnel Hill Partners, LP") a B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating. At the same time, Moody's assigned B2 ratings to the proposed first-lien senior secured revolving credit facility and first-lien senior secured term loan. The rating assignments follow the company's plan to raise $350 million of new senior secured debt - a $75 million first-lien revolving credit facility and a $275 million first-lien term loan - to help fund the $590 million leveraged buyout of Tunnel Hill Partners, LP (THP) by private equity sponsor Macquarie Infrastructure Partners (Macquarie).
CSX (CSX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
In this daily bar chart of CSX, below, we can see that prices are rolling over towards the rising 50-day moving average line. The daily On-Balance-Volume (OBV) line shows a decline from late August and tells us that sellers of CSX have become more aggressive. The trend-following Moving Average Convergence Divergence (MACD) oscillator crossed to the downside last month giving us a take profits sell signal.
CSX Corporation (CSX) today announced a change in leadership for the Merchandise and Intermodal Sales & Marketing teams with the appointment of Dean Piacente to Vice President, Industrial Products and Maryclare Kenney to Vice President, Intermodal and Automotive. “I’m thrilled to announce Maryclare’s promotion to her new expanded role,” said Mark K. Wallace, Executive Vice President, Sales and Marketing. Piacente was previously Vice President, Intermodal and now assumes responsibility for the company’s chemicals, metals, paper and forest products businesses.
Hurricane Florence will interrupt the main rail and maritime conduits for U.S. coal exports, according to Susquehanna Financial Group. Although indeterminate as yet, the length of any Florence-related outages for Norfolk Southern and CSX could affect results, "given the profitable bottom-line contribution from that volatile commodity in 2018," Majors said. Norfolk Southern operates the Lamberts Point transloading facility at the Port of Virginia, which can process up to 48 million tons annually and load the largest bulk ships with coal.
Transportation companies in Georgia and the Carolinas sprinted to secure property and employees in the path of Hurricane Florence on Wednesday as disruptions to the U.S. supply chain were already being felt. BMW of North America has a plant in Spartanburg, South Carolina, nearly 300 miles (483 km) inland from the life-threatening hurricane's projected point of landfall on Friday, and automobile shipments were diverted. "Rail cars with vehicles destined for export from Charleston have been diverted to secure holding areas until the storm passes," BMW spokesman Kenn Sparks said.