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Genesee & Wyoming (GWR) Stock Up on Strong August Traffic
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Genesee & Wyoming, Inc. reported an impressive rise in August traffic volumes. Traffic in the month was 296,442 carloads, reflecting a 6.8% increase year over year. Moreover, the same railroad traffic climbed 11.1% excluding carloads from the Continental European intermodal business, sold in June 2018.
Following such encouraging figures, shares of the company inched up 1.2% at the close of business on Sep 14.
Segmental Traffic
Traffic in the company’s North American operations increased 11.7% from the year-ago figure owing to impressive growth across most of its commodity groups except the autos and auto parts group, which declined 14.4% year over year. Traffic at the Intermodal group soared a maximum of 53.3%.
Australian operations (owned 51.1% by the company) traffic improved 37.1% on the back of 44.2% and 3.4% traffic growth at the coal & coke and petroleum products group, respectively. Meanwhile, traffic at the agricultural products and metallic ores group plunged 40.8% and 30.4%, each.
However, similar to July traffic, U.K./European operations traffic dropped 12.7% year over year in August, mainly due to the respective 15.8% and 14% decrease in the segment’s intermodal and agricultural products traffic numbers.
Shares of SkyWest, Trinity and Old Dominion have rallied more than 52%, 20% and 63%, respectively, in a year.
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Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
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Genesee & Wyoming (GWR) Stock Up on Strong August Traffic
Genesee & Wyoming, Inc. reported an impressive rise in August traffic volumes. Traffic in the month was 296,442 carloads, reflecting a 6.8% increase year over year. Moreover, the same railroad traffic climbed 11.1% excluding carloads from the Continental European intermodal business, sold in June 2018.
Following such encouraging figures, shares of the company inched up 1.2% at the close of business on Sep 14.
Segmental Traffic
Traffic in the company’s North American operations increased 11.7% from the year-ago figure owing to impressive growth across most of its commodity groups except the autos and auto parts group, which declined 14.4% year over year. Traffic at the Intermodal group soared a maximum of 53.3%.
Australian operations (owned 51.1% by the company) traffic improved 37.1% on the back of 44.2% and 3.4% traffic growth at the coal & coke and petroleum products group, respectively. Meanwhile, traffic at the agricultural products and metallic ores group plunged 40.8% and 30.4%, each.
However, similar to July traffic, U.K./European operations traffic dropped 12.7% year over year in August, mainly due to the respective 15.8% and 14% decrease in the segment’s intermodal and agricultural products traffic numbers.
Genesee & Wyoming, Inc. Price
Genesee & Wyoming, Inc. Price | Genesee & Wyoming, Inc. Quote
Zacks Rank & Key Picks
Genesee & Wyoming carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. (SKYW - Free Report) , Trinity Industries, Inc. (TRN - Free Report) and Old Dominion Freight Line, Inc. (ODFL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest, Trinity and Old Dominion have rallied more than 52%, 20% and 63%, respectively, in a year.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>