Freight Scene Is Picking Up: 3 Transportation Stocks In Focus

The company expects adjusted earnings per share in the band of $2.68-$2.72 (previously $2.15-$2.30) for the full year. Improving freight conditions might have led to this bullish outlook. The company expects such bright freight conditions to continue. The Zacks Consensus Estimate for 2020 earnings has been revised 24.9% upward in the past 60 days.

Landstar System (LSTR - Free Report): Based in Jacksonville, FL, the company provides integrated transportation management solutions to customers throughout the United States, Canada, Mexico as well as other countries in North America. Gradual recovery in the freight scene is a boon to the company, currently carrying a Zacks Rank #2 (Buy).

It has been witnessing an expansion in trucking volumes over the past few months, owing to which it reported better-than-expected earnings per share and revenues for the third quarter of 2020. The Zacks Consensus Estimate for 2020 earnings has been revised 17.5% upward in the past 60 days.

Norfolk Southern Corporation: This Norfolk, VA- based railroad operator carries a Zacks Rank #3 (Hold), currently. The Zacks Consensus Estimate for 2020 earnings has moved 3.4% north in the past 60 days.

The company is benefiting from brighter intermodal and automotive volume on the back of gains in the consumer-driven markets. It expects its consumer-oriented markets to remain strong, thereby driving growth.

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