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Genesee & Wyoming Down on Disappointing November Traffic
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Genesee & Wyoming reported disappointing traffic figures for November. Following this, shares of the company declined more than 3% at the close of business on Dec 14.
Traffic in the month was 259,900 carloads, reflecting a 4.4% decrease year over year. The railroad’s same railroad traffic (excluding carloads from the Continental European intermodal business sold in June 2018) slid 0.2%.
Segmental Traffic
Traffic at the company’s North American operations rose 2.3% from the year-ago figure owing to a substantial increase in traffic across several of its segments. Traffic at the intermodal segments rose a whopping 67.5% while the same jumped 20.3% at the petroleum products segment. Segments like agricultural products, autos & auto parts, chemicals and plastics as well as minerals and stone have suffered a fall in traffic statistics.
Australian operations (owned 51.1% by the company) traffic deteriorated 6.9% due to lower traffic across most of its units. The only outlier was the metallic ores group, reporting a 21.7% year-over-year increase in traffic.
Total traffic at U.K./European operations contracted 12.2% from the last November-level, mainly due to decrease in traffic across most of its segments.
Shares of CSX, Spirit and Norfolk Southern have gained more than 22%, 31% and 5%, respectively, in a year.
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Genesee & Wyoming Down on Disappointing November Traffic
Genesee & Wyoming reported disappointing traffic figures for November. Following this, shares of the company declined more than 3% at the close of business on Dec 14.
Traffic in the month was 259,900 carloads, reflecting a 4.4% decrease year over year. The railroad’s same railroad traffic (excluding carloads from the Continental European intermodal business sold in June 2018) slid 0.2%.
Segmental Traffic
Traffic at the company’s North American operations rose 2.3% from the year-ago figure owing to a substantial increase in traffic across several of its segments. Traffic at the intermodal segments rose a whopping 67.5% while the same jumped 20.3% at the petroleum products segment. Segments like agricultural products, autos & auto parts, chemicals and plastics as well as minerals and stone have suffered a fall in traffic statistics.
Australian operations (owned 51.1% by the company) traffic deteriorated 6.9% due to lower traffic across most of its units. The only outlier was the metallic ores group, reporting a 21.7% year-over-year increase in traffic.
Total traffic at U.K./European operations contracted 12.2% from the last November-level, mainly due to decrease in traffic across most of its segments.
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 CSX Corporation (CSX - Free Report) , Norfolk Southern Corporation (NSC - Free Report) and Spirit Airlines (SAVE - Free Report) . While Spirit flaunts a Zacks Rank #1 (Strong Buy), CSX and Norfolk Southern carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of CSX, Spirit and Norfolk Southern have gained more than 22%, 31% and 5%, respectively, in a year.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>