68.31 0.00 (0.00%)
After hours: 4:24PM EDT
|Bid||67.07 x 800|
|Ask||69.47 x 2200|
|Day's Range||67.36 - 68.94|
|52 Week Range||48.26 - 76.24|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||9.07|
|Earnings Date||Jan 14, 2019 - Jan 18, 2019|
|Forward Dividend & Yield||0.88 (1.30%)|
|1y Target Est||81.61|
CSX (CSX) is covered by 25 analysts polled by Thomson Reuters. The railroad has a consensus rating of 2.15, indicating a “buy.” Seven analysts recommended a “strong buy” for CSX stock, and nine analysts recommended a “buy.” Eight analysts recommended a “hold,” and one analyst recommended a “sell” on CSX stock.
In the third quarter, CSX’s (CSX) operating margin set a historical quarterly record. CSX reported an operating margin of 41.3% in the quarter, up 970 basis points from 31.6% in the third quarter of 2017.
In the previous part of this series, we looked at CSX’s (CSX) intermodal revenues in the third quarter. Now, we’ll look into its merchandise freight revenues. The railroad’s merchandise revenues grew 12.0% YoY (year-over-year) to $1.89 billion in the third quarter from ~$1.68 billion in the third quarter of 2017.
Kansas City Southern (KSU), the Class I railroad company that’s been in focus during the Trump presidency, announced its third-quarter earnings results before the market opened on October 18. The company’s adjusted EPS of $1.70 in the quarter were up 38.2% YoY (year-over-year) from $1.23 in the third quarter of 2017. KSU also did well amid network congestion in northern Mexico, which resulted in a difficult operating environment.
One of the guiding principles of the construction of the 202-acre, $480 million Packing District is turn the historically industrial area into a more walkable destination for future residents and visitors. Overall, developer Dr. Phillips Charities' planned district wants to repurpose 100-year-old buildings historically used to pack citrus. Construction on the Packing District's first phase — part of a roughly 84-acre commercial and industrial area — could start next summer or early fall with completion in late 2020. However, Westfield, Mass.-based Pinsly Railroad Co., which operates the rail lines owned by Jacksonville-based CSX Corp. (NYSE: CSX), is not looking to part ways with the railway spurs in the Packing District, said Pete Petree, a vice president with Pinsly Railroad.
In the third quarter, the railroad’s intermodal revenues expanded 12.1% YoY (year-over-year) to $500.0 million from $446.0 million in the third quarter of 2017. Intermodal’s revenue contribution to CSX’s total operating revenues declined 0.3% to 16.0% in the quarter from 16.3% in the third quarter of 2017. CSX’s intermodal shipments rose 3.0% YoY in the third quarter to 739,000 containers and trailers from 718,000 units in the third quarter of 2017.
In this part, we’ll turn to CSX’s (CSX) revenues by segment, starting with coal. Coal remains an important commodity for the US railroads, accounting for more than a third of their total originated tonnage in 2017. In the third quarter, CSX’s coal revenues jumped 14.0% YoY (year-over-year) to $588.0 million from $514.0 million in the third quarter of 2017.
On October 18, Canadian Pacific Railway (CP) announced its third-quarter earnings after the markets closed. It reported adjusted EPS of 4.12 Canadian dollars, which surpassed Thomson Reuters–surveyed analysts’ average estimate of 4.07 Canadian dollars by 1.2%.
The third-quarter earnings for the major US railroads started with Eastern US rail giant CSX (CSX). On October 16, CSX reported its third-quarter earnings after market hours.
CSX Corp. CSX has been weakened this month and more declines could lie ahead. Not all train tickets are round-trips so traders will need to protect profits. In this daily bar chart of CSX, below, we can see a number of bearish clues.
In this part, we’ll discuss J.B. Hunt Transport Services’ (JBHT) operating profit and operating margin in the third quarter. The company’s operating profit grew 6.1% YoY (year-over-year) to $174.6 million in the third quarter from $164.9 million in the third quarter of 2017.
All things considered, it could have been worse. The S&P 500 could have closed at Wednesday’s low of 2,781.81, logging a 1% loss for the session, quelling any hopes for a rebound built on Monday’s big bounce. But the market snapped back at mid-day, closing the gap to a loss of only 0.03% yesterday.
For Jacksonville, Florida-based train giant CSX, Hurricane Florence means lawsuits and rail repairs.
J.B. Hunt Transport Services’ (JBHT) ICS (Integrated Capacity Solutions) segment’s revenues were $346.0 million in the third quarter—up 28.6% YoY (year-over-year) from $269.0 million. For J.B. Hunt, this non-asset-based segment is the third-largest total revenue source.
Good news is bad because it gives the Federal Reserve another reason to pump the brakes on the economy with more rate hikes. Fortunately, as earnings season kicks into high gear, we'll get plenty of data to determine whether the Fed's plan for four more rate hikes is right or wrong.
It's positive because it cuts in favor of the Fed doing nothing and letting the economy grow a little more so that workers can start getting some raises and do better than the bosses for a change. The ostensible reason is that the economy's at full employment and if you let it get any stronger then we might ignite hard-to-stop wage inflation. Let's give the Fed its due.
The stock market was mixed with the Dow dropping about 150 points early Wednesday. Netflix jumped after strong subscriber growth.
Dow Jones futures fell early Wednesday, but Nasdaq futures jumped. Netflix stock soared late on subscriber growth, and FANG stocks Facebook, Amazon and Alphabet also rose.
CSX Corporation (Nasdaq: CSX) reported third quarter earnings above Wall Street consensus estimates thanks to its ongoing implementation of precision scheduled railroading and a strong market for U.S. export coal. The third quarter marks the second consecutive that saw CSX's operating ratio fall below 60 percent, with those results coming in two years ahead of the schedule set by chief executive James Foote. "I am very excited by the strong performance of the railroad," Foote said on the earning conference call.
The Ocean Network Express business formed from the country’s big three carriers expects to lose $600 million in its first year of operations, the WSJ’s Costas Paris reports, the biggest in a series of financial setbacks by carriers this year. Fuel prices are soaring, and an early surge in peak-season shipping driven by trade tensions came just as ONE was trying to get its bearings. Inc. raised truck driver pay at a double-digit pace in the third quarter, the WSJ Logistics Report’s Jennifer Smith writes, signaling that freight operators are paying up to meet strong shipping demand.
Canadian National Railway (CNI) reported 2.5% YoY (year-over-year) carload traffic growth in Week 40. The railroad company hauled ~66,000 railcars excluding intermodal traffic from ~64,400 units in the same week of 2017.