| Wednesday | ||||
The Association of… The Association of American Railroads or AAR, reported U.S. rail traffic for the week ending February 27.Total U.S. weekly rail traffic was 486,429 carloads and intermodal units, up 1.7% compared with the same week last year. Total carloads for the week ending February 27 were 215,181 carloads, down 8.5% compared with the same week in 2020, while U.S. weekly intermodal volume was 271,248 containers and trailers, up 11.6% compared to 2020. North American rail volume for the week ending February 27, 2021, on 12 reporting U.S., Canadian and Mexican railroads totaled 313,051 carloads, down 7.4% compared with the same week last year, and 359,293 intermodal units, up 12.4% compared with last year. Total combined weekly rail traffic in North America was 672,344 carloads and intermodal units, up 2.2 percent. North American rail volume for the first eight weeks of 2021 was 5,419,585 carloads and intermodal units, up 1.1% compared with 2020. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link | ||||
| Over a week ago | ||||
Evercore ISI analyst… Evercore ISI analyst Jonathan Chappell downgraded Norfolk Southern to In Line from Outperform with a price target of $273, up from $270. The analyst has made his initial update to Q1 and full-year 2021 EPS estimates to reflect the volume and cost impact of the widespread winter weather and incorporated updated views from the firm's Autos team on the potential production impact of the semiconductor shortage, all of which results in Q1 forecasts that have "come down materially, and now sit well below the average Street projection," Chappell said. Noting that most investors are already looking to next year for "normalized EPS", he is shifting his price target and "rank file" analysis to 2022 forecasts, Chappell added. | ||||
Evercore ISI analyst… Evercore ISI analyst Jonathan Chappell downgraded Norfolk Southern to In Line from Outperform. | ||||
The Association of… The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending February 20. For this week, total U.S. weekly rail traffic was 377,904 carloads and intermodal units, down 21.7% compared with the same week last year. Total carloads for the week ending February 20 were 171,642 carloads, down 26.3% compared with the same week in 2020, while U.S. weekly intermodal volume was 206,262 containers and trailers, down 17.4% compared to 2020. North American rail volume for the week ending February 20, on 12 reporting U.S., Canadian and Mexican railroads totaled 257,127 carloads, down 22.2% compared with the same week last year, and 286,467 intermodal units, down 11.9% compared with last year. Total combined weekly rail traffic in North America was 543,594 carloads and intermodal units, down 17.1%. North American rail volume for the first seven weeks of 2021 was 4,725,082 carloads and intermodal units, up 0.4% compared with 2020. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link | ||||
Norfolk Southern… Norfolk Southern announced it has terminated plans to build a rail transfer facility on the site of the former Chattahoochee Brick Company in Atlanta. Norfolk Southern's decision comes after the City of Atlanta filed a petition for preliminary injunction last week with the federal Surface Transportation Board. "Although the company believes the City's action lacks legal merit, Norfolk Southern listened to the community and has no interest in protracted litigation if the City opposes the project," Norfolk Southern said. The company will complete the necessary work to stabilize and secure the site and then withdraw, it noted. James Squires, chairman, president and CEO, added: "We believe our project presented an opportunity to create a long-overdue memorial to the painful legacy of the site, and at the same time reshape its future by building new river trails and putting the long-abandoned land back into productive use in a way that benefits the regional economy. We pride ourselves on being a good corporate citizen in the communities where we operate. In this case, that means walking away from the project despite our very best efforts to work with the community on the responsible development of the site." | ||||
The Association of… The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending February 13. For this week, total U.S. weekly rail traffic was 480,483 carloads and intermodal units, up 0.3% compared with the same week last year. Total carloads for the week ending February 13 were 211,420 carloads, down 7% compared with the same week in 2020, while U.S. weekly intermodal volume was 269,063 containers and trailers, up 6.9% compared to 2020.North American rail volume for the week ending February 13, on 12 reporting U.S., Canadian and Mexican railroads totaled 301,184 carloads, down 7.4 percent compared with the same week last year, and 351,190 intermodal units, up 7.8% compared with last year. Total combined weekly rail traffic in North America was 652,374 carloads and intermodal units, up 0.2%. North American rail volume for the first six weeks of 2021 was 4,181,488 carloads and intermodal units, up 3.3% compared with 2020.Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link | |
The Association of… The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending February 6. For this week, total U.S. weekly rail traffic was 495,815 carloads and intermodal units, up 2.2% compared with the same week last year. Total carloads for the week ending February 6 were 226,393 carloads, down 2.5% compared with the same week in 2020, while U.S. weekly intermodal volume was 269,422 containers and trailers, up 6.4% compared to 2020.North American rail volume for the week ending February 6, on 12 reporting U.S., Canadian and Mexican railroads totaled 320,658 carloads, down 2.4% compared with the same week last year, and 354,269 intermodal units, up 6.5% compared with last year. Total combined weekly rail traffic in North America was 674,927 carloads and intermodal units, up 2.1%. North American rail volume for the first five weeks of 2021 was 3,529,114 carloads and intermodal units, up 3.9% compared with 2020. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link |
| Over a month ago | ||||
The Association of… The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending January 30, as well as volumes for January. U.S. railroads originated 930,303 carloads in January 2021, down 2.1%, or 19,799 carloads, from January 2020. U.S. railroads also originated 1,173,220 containers and trailers in January 2021, up 12.1%, or 126,548 units, from the same month last year. Combined U.S. carload and intermodal originations in January 2021 were 2,103,523, up 5.3%, or 106,749 carloads and intermodal units from January 2020.Total U.S. weekly rail traffic was 520,693 carloads and intermodal units, up 2.1% compared with the same week last year. Total carloads for the week ending January 30 were 231,370 carloads, down 4.1% compared with the same week in 2020, while U.S. weekly intermodal volume was 289,323 containers and trailers, up 7.6% compared to 2020. North American rail volume for the week ending January 30, 2021, on 12 reporting U.S., Canadian and Mexican railroads totaled 333,887 carloads, down 3.4% compared with the same week last year, and 377,263 intermodal units, up 4.7% compared with last year. Total combined weekly rail traffic in North America was 711,150 carloads and intermodal units, up 0.7%. North American rail volume for the first four weeks of 2021 was 2,870,421 carloads and intermodal units, up 4.9% compared with 2020. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link | ||||
Argus analyst John Eade… Argus analyst John Eade raised the firm's price target on Norfolk Southern to $275 from $225 and keeps a Buy rating on the shares. The analyst notes that while the pandemic has disrupted rail activity, more recent volumes have picked up and margins are again rising. Eade adds that the domestic supply chain will be more important than ever, and he views Norfolk Southern as a "critical link" of that infrastructure. | ||||