Genesee & Wyoming Inc. (GWR) Lowered to Hold at Zacks Investment Research
Genesee & Wyoming Inc. (NYSE:GWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “GENESEE & WYOMING owns and operates short line and regional freight railroads and provides related rail services. They operate in three business segments in two geographic areas: North American Railroad Operations, Australian Railroad Operations, and Industrial Switching. “
Separately, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $73.00 target price (up from $70.00) on shares of Genesee & Wyoming in a report on Tuesday, August 16th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.00.
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Genesee & Wyoming (NYSE:GWR) traded up 0.16% during mid-day trading on Monday, hitting $68.77. 281,141 shares of the stock traded hands. Genesee & Wyoming has a 12 month low of $41.56 and a 12 month high of $73.33. The stock’s 50 day moving average is $67.48 and its 200-day moving average is $63.75. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 17.90 and a beta of 1.71.
Genesee & Wyoming (NYSE:GWR) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.15. The firm earned $501.40 million during the quarter, compared to analysts’ expectations of $490.50 million. Genesee & Wyoming had a net margin of 10.94% and a return on equity of 8.07%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. On average, equities research analysts anticipate that Genesee & Wyoming will post $3.56 EPS for the current year.
In related news, CFO Timothy J. Gallagher sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $64.55, for a total transaction of $296,930.00. Following the sale, the chief financial officer now owns 54,847 shares in the company, valued at $3,540,373.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John C. Hellmann sold 12,976 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $69.21, for a total transaction of $898,068.96. Following the sale, the insider now owns 362,073 shares in the company, valued at approximately $25,059,072.33. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Genesee & Wyoming by 7.2% in the first quarter. Wellington Management Group LLP now owns 6,029,696 shares of the company’s stock worth $378,062,000 after buying an additional 405,552 shares during the period. Vanguard Group Inc. raised its position in shares of Genesee & Wyoming by 3.0% in the second quarter. Vanguard Group Inc. now owns 4,046,592 shares of the company’s stock worth $238,547,000 after buying an additional 117,582 shares during the period. Lazard Asset Management LLC bought a new position in shares of Genesee & Wyoming during the first quarter worth $173,415,000. BlackRock Fund Advisors raised its position in shares of Genesee & Wyoming by 5.6% in the second quarter. BlackRock Fund Advisors now owns 1,963,644 shares of the company’s stock worth $115,757,000 after buying an additional 103,690 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Genesee & Wyoming by 2.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,664,180 shares of the company’s stock worth $98,103,000 after buying an additional 42,203 shares during the period. Hedge funds and other institutional investors own 98.07% of the company’s stock.
About Genesee & Wyoming
Genesee & Wyoming Inc owns and operates over 120 freight railroads across the world, which are organized in approximately 10 regions. The Company operates through three segments, which include North American Operations, Australian Operations and U.K./European Operations. In the United States, the Company has over eight regions, such as Central, Coastal (which includes industrial switching and port operations), Midwest, Mountain West (which includes industrial switching operations), Northeast, Ohio Valley, Pacific and Southern.
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