Railroads Week In Review: Norfolk Southern, CSX And Union Pacific

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Apart from the release of their weekly carload reports and the announcement of the dates for third quarter earnings, there were no major events in the railroad industry.

Norfolk Southern’s carloading report

Norfolk Southern (NYSE:NSC)  released its carloading data for the week ending September 20, 2014 [1] reporting decline in carloads of major commodities including coal, chemicals, automotives and food products. Grain, construction related products, petrochemicals and intermodal carloads were up during the week. Norfolk Southern will be announcing its third quarter results on October 22, 2014.

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Norfolk Southern’s stock declined 1.8 % over the week through Thursday, to reach $109.8. On average, the stock traded on a volume 1.33 million shares. The stock has traded at a 52-week high of $112.95 and low of $76.08.

We currently have a price estimate of $88.27 for Norfolk Southern, 20% below its current market price. We estimate revenues of $11.94 billion and EPS of $6.46 for this fiscal year, in line with consensus estimates.

Click here to see our complete analysis of Norfolk Southern.

CSX’s carloading report

CSX (NYSE:CSX) released its carloading data for the week ending September 20, 2014, [2] which was quite different from Norfolk Southern’s. Coal, chemicals, automotives and petrochemical shipments were up, whereas, grain, forest products, food products, and construction related shipments were down. Intermodal carloads showed weak growth. CSX will be announcing its third quarter results on October 14, 2014.

CSX’s stock declined 2% over the week through Thursday, to reach $31.78. On average, the stock traded on a volume 4.96 million shares. The stock has traded at a 52-week high of $32.66 and low of $25.04.

We currently have a price estimate of $26.23 for CSX, 17% below its current market price. We estimate revenues of $12.52 billion and EPS of $1.80 for this fiscal year, in line with consensus estimates.

Click here to see our complete analysis of CSX.

Union Pacific’s carloading report

Union Pacific (NYSE:UNP) released its carloading data for the week ending September 20, 2014, [3] reporting growth across all major commodities, including coal, construction related products such as lumber and gravel, chemicals, grains and intermodal. Automotive shipments were down during the week. Union Pacific will be announcing its third quarter results on October 23, 2014.

Union Pacific’s stock declined 2% over the week through Thursday, to reach $107.19. On average, the stock traded on a volume 2.74 million shares. The stock has traded at a 52-week high of $110.26 and low of $74.61.

We currently have a price estimate of $87.56 for Union Pacific, 18% below its current market price. We estimate revenues of $23.52 billion and EPS of $5.33 for this fiscal year, in line with consensus estimates.

Click here to see our complete analysis of Union Pacific.

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Notes:
  1. Norfolk Southern’s Carloadings, www.nscorp.com []
  2. CSX Carload Report for Week 38 2014, www.csx.com []
  3. Union Pacific’s Carload Report for Week 38 2014, www.up.com []