Zacks Investment Research upgraded shares of Genesee & Wyoming Inc. (NYSE:GWR) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $75.00 price target on the stock.
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 reiterated a buy rating and issued a $73.00 price objective (up previously from $70.00) on shares of Genesee & Wyoming in a research note on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $71.00.
Shares of Genesee & Wyoming (NYSE:GWR) traded up 0.22% during midday trading on Wednesday, reaching $68.12. 24,605 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $67.55 and its 200 day moving average price is $63.43. Genesee & Wyoming has a 1-year low of $41.56 and a 1-year high of $73.33. The stock has a market capitalization of $3.95 billion, a P/E ratio of 17.73 and a beta of 1.71.
Genesee & Wyoming (NYSE:GWR) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.15. Genesee & Wyoming had a net margin of 10.94% and a return on equity of 8.07%. The firm earned $501.40 million during the quarter, compared to analysts’ expectations of $490.50 million. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities analysts predict that Genesee & Wyoming will post $3.56 earnings per share for the current fiscal year.
In related news, General Counsel Allison M. Fergus sold 2,271 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $64.69, for a total value of $146,910.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the insider now directly owns 362,073 shares in the company, valued at $25,059,072.33. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in Genesee & Wyoming by 1,083.1% in the second quarter. Macquarie Group Ltd. now owns 34,737 shares of the company’s stock valued at $2,048,000 after buying an additional 31,801 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Genesee & Wyoming by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,867 shares of the company’s stock valued at $582,000 after buying an additional 42 shares in the last quarter. Mason Street Advisors LLC bought a new stake in Genesee & Wyoming during the second quarter valued at about $1,537,000. Aristotle Capital Boston LLC boosted its stake in Genesee & Wyoming by 3.8% in the second quarter. Aristotle Capital Boston LLC now owns 73,988 shares of the company’s stock valued at $4,362,000 after buying an additional 2,717 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Genesee & Wyoming by 14.1% in the second quarter. Royal Bank of Canada now owns 16,397 shares of the company’s stock valued at $966,000 after buying an additional 2,024 shares in the last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
Genesee & Wyoming Company Profile
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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