BMO Capital Cuts Estimates on Kansas City Southern (KSU); Reiterates Market Perform
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BMO Capital reiterated a Market Perform rating and $98.00 price target on Kansas City Southern (NYSE: KSU) after adjusting estimates. KSU’s volumes are expected to be down 3.8% y/y in 3Q16. BMO cut EPS estimates by $0.09 to $1.18 compared to the Street at $1.23.
Analyst Fadi Chamoun commented, "We are lowering our Q3/16 EPS estimate for Kansas City Southern to $1.18 (consensus is $1.23) from $1.27. While we expect revenues to be in line with our expectations this quarter, we believe that costs will be higher, in large part due to flooding disruptions and the associated rerouting expenses, as well as higher incentive compensation. We rate KSU Market Perform."
Shares of Kansas City Southern closed at $93.32 yesterday.
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