YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Kansas City Southern Railway Co.’s stock (NYSE: KSU) ran off the rails at the market’s open Thursday, dropping to $91.83 a share. It’s the lowest point the railroad company’s stock has traded at since Feb. 18, 2014.
Kansas City Southern’s share price has been on a rough track for about two months. After opening in the neighborhood of $110 to $120 a share at the beginning of 2015, the company lowered estimated revenue growth by four percent in late March, citing a strong dollar and low oil prices as contributing factors.
According to the Kansas City Business Journal, Kansas City Southern’s stock value has since fallen 13 percent. In a May 14 filing with the Securities and Exchange Commission, the company withdrew its 2015 revenue and volume guidance.
Railroad woes aren’t limited to the Kansas City-based company; an analyst report issued Wednesday shows North American Class I railroads as a whole saw their eight-straight week of year-over-year declines in traffic for coal, agriculture and forest products.
Read more from the Kansas City Business Journal.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.