Aurizon Still Trading at a Premium Despite Share Price Fall
Narrow-moat Aurizon's share price has fallen more than 20% in the past year and it now offers a 6% mostly franked dividend yield, but we remain cautious given the challenging outlook. The recent draft regulatory decision for its Queensland rail track was harsh, and that's with coal prices hovering at high levels. We can only imagine regulatory conditions getting much worse if the coal industry goes into another slump, which is likely based on Morningstar's bearish resources outlook. Add in incre...Aurizon Holdings is engaged in integrated heavy haul freight railway operation; rail transportation of coal from mine to port for export markets; bulk, general and containerised freight businesses; and rail services activities. Co. has three segments: Network, which is engaged in the provision of access to, and operation and management of, the Central Queensland Coal Network; Commercial & Marketing, which is engaged in the commercial negotiation of sales contracts and customer relationship management; as well as Operations, which is engaged in the national delivery of various coal, iron ore, bulk and intermodal haulage services, and in the maintenance of rollingstock fleet assets.
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