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20.10.2019 17:21:00

Is CSX Stock a Buy Right Now?

CSX's (NASDAQ: CSX) latest earnings turned out to be not quite as bad as expected, and the railroad's highly successful attempts at cutting costs suggest its peers can do the same in the future. There's little CSX can do about a deteriorating economy -- something also confirmed in the earnings report -- but management's full-year outlook remained unchanged from what it was three months ago, and internal execution has been good. It was a relatively good earnings report, but is it enough to make the stock a buy, and what does it mean for the other stocks in the railroad industry?CSX started 2019 expecting its full-year revenue growth to be 1% to 2%, but the deterioration in the industrial economy led management to cut expectations to a decline of between 2% and 1%. Indeed, the third-quarter earnings suggested CSX will have difficulty hitting the high end of the reduced guidance -- revenue declined 5% in the quarter and is now down 1% in the first nine months of 2019. That said, the fact that CSX didn't reduce full-year guidance can be taken as a positive in the current environment.Image source: Getty Images.Continue reading
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