ITMS
5 년 전
Railroad Stocks Fall Off The Track $CSX
Today, most of the leading railroad stocks are declining sharply lower after a very weak earnings report from CSX Corp (NYSE:CSX). The company said it expects revenue to fall by as much as 2.0% in 2019. Prior to this report, the company was forecasting an increase of 1.0 to 2.0%. Currently, CSX stock is declining lower by $8.52 (-10.50) to $71.05 a share. CSX stock is now trading below its 200-day moving average, this puts the stock in a weak technical position. Traders and investors must now watch for further downside in the coming days and weeks ahead. The next major support level for CSX stock will be around the $65.00 area. This level is where the 100-week moving average is currently and should be defended when tested. Other railroad stocks that are falling in sympathy to CSX Corp include Norfolk Southern Corp (NYSE:NSC), Union Pacific Corp (NYSE:UNP) and Kansas City Southern (NYSE:KSU).
Nicholas Santiago
InTheMoneyStocks
roger wilco
7 년 전
Wow special interest groups really don't like the new CSX CEO
Dozens of U.S. trade groups have asked federal rail regulators to investigate CSX Corp's "chronic service failures," saying problems at No. 3 U.S. railroad have rippled across the North American rail network, according to a letter seen by Reuters.
The letter, from the Rail Customer Coalition sent on Monday, is the latest challenge to CSX Chief Executive Hunter Harrison's effort to ramp up productivity at the Jacksonville, Florida-based railroad and fulfill investor expectations for substantially better financial performance.
The 44 trade groups, representing chemical and agricultural companies, steel and auto makers, and beer producers and importers, among other companies, told U.S. lawmakers on House and Senate Transportation committees "chronic service failures" could degrade the nation's broader rail network.
ITMS
7 년 전
$CSX Corp (CSX) Falls On Earnings, Here Is The Downside Target Price...
Shares of CSX Corporation (NASDAQ:CSX) fell after the transport stock reported earnings that beat Wall Street expectations. Does it sound weird, it is falling on an earnings beat? Upon a closer look, some accounting maneuvers allowed for that beat. If you back out those shady dealings, CSX Corporation actually missed earnings. This explains why it is falling. Being a technical chart trader, I have been bearish on CSX Corporation. I just cannot make sense of a railroad stock trading at a 30 P/E ratio. Are we living in the late 1800's? On a technical chart basis, CSX Corporation had a significant breakdown today. The stock gapped below the daily 20, 50 moving averages as well as a major trend line (seen in the chart below). This signals further downside is very likely. I have a $47 target penciled in, and should be achieved within the next month or so. Once at $47, CSX Corporation should see a solid bounce higher.
Gareth Soloway
InTheMoneyStocks
roger wilco
9 년 전
CSX Corporation Announces All-Time Record Quarterly Financial Results
Highlights:
•Quarterly operating income more than $1 billion for the first time in company history
•All-time record operating ratio of 66.8 percent
•Improving service measurements and industry-leading safety results
JACKSONVILLE, Fla. - July 14, 2015 - CSX Corporation (NYSE: CSX) announced financial results for the second quarter of 2015, including net earnings of $553 million, or an all-time record $0.56 per share, an increase from $529 million, or $0.53 per share, in the second quarter of 2014.
Revenue declined 6 percent, as pricing gains were more than offset by the impact of lower fuel recovery, a 1 percent volume decline and changing business mix. At the same time, continued low fuel prices and savings from efficiency initiatives reduced expenses by 9 percent. As a result, CSX delivered record operating income of more than $1 billion for the quarter and a record-low operating ratio of 66.8 percent.
“While we saw challenges in a number of markets, CSX employees delivered an even safer, more reliable and more differentiated service product this quarter,” said Michael J. Ward, chairman and chief executive officer. “We expect the momentum in network performance we saw in the second quarter to accelerate, continuing to create value for our customers and shareholders.”
CSX expects to deliver mid-to-high single digit earnings per share growth for 2015, although the upper end of that range has become more challenging given the current energy environment. With low natural gas prices and high inventory levels continuing to reduce utility coal demand, CSX now expects domestic coal volume to decline by approximately 10 percent for 2015 and the outlook for export coal volume remains approximately 30 million tons for the year. The company also expects meaningful margin expansion as it progresses towards a full-year operating ratio in the mid-60s longer term.
CSX executives will conduct a quarterly earnings conference call with the investment community on July 15, 2015, from 8:30 a.m. to 9:30 a.m. Eastern time. Investors, media and the public may listen to the conference call by dialing 1-888-EARN-CSX FREE (888-327-6279 FREE) and asking for the CSX earnings call. Callers outside the U.S., dial 1-773-756-0199. Participants should dial in 10 minutes prior to the call. In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the company's website at http://investors.csx.com. Following the earnings call, an internet replay of the presentation will be archived on the company website.
This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available through the company’s website at http://investors.csx.com and on Form 8-K with the Securities and Exchange Commission.
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