CSX Corp

CSX-Q

NASDAQ:CSX

63.52
2.37 (3.88%)
The CSX Corporation is an American holding company focused on real estate and railways in North America, among other industries. The company was established in 1978 as part of the Chessie System and Seaboard Coast Line Industries merger.
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Analysis and Opinions about CSX-Q

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
November 1, 2013

(A Top Pick July 12/13. Up 8.54%.) Believes the US recovery is going to continue and is going to be slow and grinding. This is one of the best managed rail companies. Moves everything from fertilizer to furniture to cars, so it is leveraged to the recovery theme. It will do crude by rail, so benefits from the shale plays. Probably the cheapest in the rail group. Still a Buy.

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CSX Corp (CSX-Q)
November 1, 2013

(A Top Pick July 12/13. Up 8.54%.) Believes the US recovery is going to continue and is going to be slow and grinding. This is one of the best managed rail companies. Moves everything from fertilizer to furniture to cars, so it is leveraged to the recovery theme. It will do crude by rail, so benefits from the shale plays. Probably the cheapest in the rail group. Still a Buy.

BUY
BUY
October 10, 2013

(Market call Minute) Likes the rails. You could own this whole group. There is a secular tail wind.

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CSX Corp (CSX-Q)
October 10, 2013

(Market call Minute) Likes the rails. You could own this whole group. There is a secular tail wind.

BUY
BUY
September 20, 2013

Infrastructure is hard to replicate. Worked through some issues with coal. They are diversified in what they carry. There were autos, fertilizer, housing supplies and Intermodal. The multiple does not represent a huge discount but thinks there will be earnings growth behind it and that there will be a little multiple expansion to come.

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CSX Corp (CSX-Q)
September 20, 2013

Infrastructure is hard to replicate. Worked through some issues with coal. They are diversified in what they carry. There were autos, fertilizer, housing supplies and Intermodal. The multiple does not represent a huge discount but thinks there will be earnings growth behind it and that there will be a little multiple expansion to come.

BUY
BUY
September 19, 2013

This is his preferred name in the rail space. The best performing class 1 in the US, year to date. Good execution story and good management. Likes the leverage to all things that are recovering in the US. They transport everything from fertilizer to furniture to autos to chemicals, etc. Coal became a problem for them, but management made adjustments for that. He can see this going to the $29 level.

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CSX Corp (CSX-Q)
September 19, 2013

This is his preferred name in the rail space. The best performing class 1 in the US, year to date. Good execution story and good management. Likes the leverage to all things that are recovering in the US. They transport everything from fertilizer to furniture to autos to chemicals, etc. Coal became a problem for them, but management made adjustments for that. He can see this going to the $29 level.

BUY
BUY
August 28, 2013

This is still trading at a fairly low multiple compared to its peers. 11X PE versus Canadian National (CNR-T) at 16 or 18 times. Likes their exposure to the coal industry. Last quarter they reported that revenues domestically for coal are up 6% year-over-year. They plan to grow by about 10%-11% going forward to 2015.

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CSX Corp (CSX-Q)
August 28, 2013

This is still trading at a fairly low multiple compared to its peers. 11X PE versus Canadian National (CNR-T) at 16 or 18 times. Likes their exposure to the coal industry. Last quarter they reported that revenues domestically for coal are up 6% year-over-year. They plan to grow by about 10%-11% going forward to 2015.

BUY
BUY
August 20, 2013

Doesn’t own US rails but if he did this would be top of list. Valuation is compelling. Have an objective to move operating ration down over next few years. Struggle they have is that they were a coal mover (20% of business) but were quite successful at replacing that. Probably a good option. Avoid the idea of averaging up.

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CSX Corp (CSX-Q)
August 20, 2013

Doesn’t own US rails but if he did this would be top of list. Valuation is compelling. Have an objective to move operating ration down over next few years. Struggle they have is that they were a coal mover (20% of business) but were quite successful at replacing that. Probably a good option. Avoid the idea of averaging up.

SELL
SELL
August 19, 2013

Don`t add to your position, sell or hold. Harvest it and sell. There are 6 players across North America and this is a better name. Doesn`t see much growth. Valuation is looking a little stretched in all these names.

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CSX Corp (CSX-Q)
August 19, 2013

Don`t add to your position, sell or hold. Harvest it and sell. There are 6 players across North America and this is a better name. Doesn`t see much growth. Valuation is looking a little stretched in all these names.

BUY
BUY
August 6, 2013

This is a “go to” name. 30%-35% of their business is shipping coal. Coal demand is weak but the other part of their business is tied to the US economy and that is what has powered the stock higher. Smart capital allocators. Always buying back shares and raising their dividend.

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CSX Corp (CSX-Q)
August 6, 2013

This is a “go to” name. 30%-35% of their business is shipping coal. Coal demand is weak but the other part of their business is tied to the US economy and that is what has powered the stock higher. Smart capital allocators. Always buying back shares and raising their dividend.

TOP PICK
TOP PICK
August 1, 2013

Over the last couple of quarters they have been able to demonstrate that they can overcome the coal headwind in the diversity of their model. They own a network and she thinks that as there is greater and greater congestion and more goods moving, it is a valuable thing to have and it can’t be replicated. The biggest opportunity she seems is on the intermodal side in partnering with the trucking companies to provide long haul service. It seems to be in the very early stages of this trend.

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CSX Corp (CSX-Q)
August 1, 2013

Over the last couple of quarters they have been able to demonstrate that they can overcome the coal headwind in the diversity of their model. They own a network and she thinks that as there is greater and greater congestion and more goods moving, it is a valuable thing to have and it can’t be replicated. The biggest opportunity she seems is on the intermodal side in partnering with the trucking companies to provide long haul service. It seems to be in the very early stages of this trend.

COMMENT
COMMENT
July 31, 2013

Canadian National (CNR-T) versus CSX Corp (CSX-N)? Likes the rail industry generally because of the economic sensitivity. As the US economy picks up, goods have to be moved. Prefers Canadian national even though it is more expensive.

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CSX Corp (CSX-Q)
July 31, 2013

Canadian National (CNR-T) versus CSX Corp (CSX-N)? Likes the rail industry generally because of the economic sensitivity. As the US economy picks up, goods have to be moved. Prefers Canadian national even though it is more expensive.

BUY
BUY
July 23, 2013

Exposed to the eastern seaboard in the US. Has moved nicely over the year and reported really good earnings. One-year target of $28-$29.

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CSX Corp (CSX-Q)
July 23, 2013

Exposed to the eastern seaboard in the US. Has moved nicely over the year and reported really good earnings. One-year target of $28-$29.

COMMENT
COMMENT
July 17, 2013

CSX Corp (CSX-N) or Norfolk Southern (NSC-N)? He doesn’t own either of these, but his preference would be with CSX. It trades at a better multiple. Management is taking the operating ratio down. It is just north of 70 right now and they want to move it into the 65 range. They have found substitutes for their coal business. Have been quite successful, whether it is chemicals or automobiles.

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CSX Corp (CSX-Q)
July 17, 2013

CSX Corp (CSX-N) or Norfolk Southern (NSC-N)? He doesn’t own either of these, but his preference would be with CSX. It trades at a better multiple. Management is taking the operating ratio down. It is just north of 70 right now and they want to move it into the 65 range. They have found substitutes for their coal business. Have been quite successful, whether it is chemicals or automobiles.

TOP PICK
TOP PICK
July 12, 2013

Good strong class 1 east coast railroad. One of the only big rails that you can buy at a decent valuation. Good balance sheet. Rail volumes are starting to improve. If you believe in the US housing recovery, although at a slower pace as he does, and if you believe the economy in the US is going to continue to get better, this will participate very nicely in that. Ships chemicals, housing products, furniture, autos as well as coal and grains. Coal is baked into the stock price and grain shipments are down about 11%. They are doing everything they can to offset these 2 things. The other opportunity for them is crude on rail, which is going to be a multiyear story.

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CSX Corp (CSX-Q)
July 12, 2013

Good strong class 1 east coast railroad. One of the only big rails that you can buy at a decent valuation. Good balance sheet. Rail volumes are starting to improve. If you believe in the US housing recovery, although at a slower pace as he does, and if you believe the economy in the US is going to continue to get better, this will participate very nicely in that. Ships chemicals, housing products, furniture, autos as well as coal and grains. Coal is baked into the stock price and grain shipments are down about 11%. They are doing everything they can to offset these 2 things. The other opportunity for them is crude on rail, which is going to be a multiyear story.

COMMENT
COMMENT
July 11, 2013

Crude by rail is a theme that is going to be important going forward. However, you need to be in the right geography. This is an east coast hauler. About 60% of their revenue is hauling merchandise to various cities. He would prefer a Union Pacific (UNP-N) if you want exposure to crude by rail. Or even Canadian National (CNR-T) and Canadian Pacific (CP-T).

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CSX Corp (CSX-Q)
July 11, 2013

Crude by rail is a theme that is going to be important going forward. However, you need to be in the right geography. This is an east coast hauler. About 60% of their revenue is hauling merchandise to various cities. He would prefer a Union Pacific (UNP-N) if you want exposure to crude by rail. Or even Canadian National (CNR-T) and Canadian Pacific (CP-T).

BUY
BUY
July 3, 2013

This is a great investment. Over time they are going to grow their rail network and he thinks they are going to benefit from improving demand for coal and an improving US economy.

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CSX Corp (CSX-Q)
July 3, 2013

This is a great investment. Over time they are going to grow their rail network and he thinks they are going to benefit from improving demand for coal and an improving US economy.

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