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Last $18.36 USD
Change Today -0.13 / -0.70%
Volume 421.0
PWX On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

providence and worcester rr (PWX) Snapshot

Open
$18.36
Previous Close
$18.49
Day High
$18.36
Day Low
$18.36
52 Week High
11/17/14 - $20.20
52 Week Low
10/17/14 - $16.51
Market Cap
89.2M
Average Volume 10 Days
938.0
EPS TTM
$0.64
Shares Outstanding
4.9M
EX-Date
05/11/15
P/E TM
28.7x
Dividend
$0.16
Dividend Yield
0.87%
Current Stock Chart for PROVIDENCE AND WORCESTER RR (PWX)

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providence and worcester rr (PWX) Details

Providence and Worcester Railroad Company, a regional freight railroad, provides interstate freight carrier services in Massachusetts, Rhode Island, Connecticut, and New York. It transports various commodities, including automobiles, construction aggregates, iron and steel products, chemicals and plastics, lumber, scrap metals, plastic resins, cement, coal, and construction and demolition debris; and processed foods and edible foodstuffs, such as corn syrup and vegetable oils. The company also sells and leases properties and tracks; grants permanent and temporary easements to government agencies, utility companies, and other parties for the installation of overhead or underground cables, pipelines, and transmission wires, as well as for recreational uses, such as bike paths; and services a double-stack intermodal terminal facility in New England. Its rail freight system comprises approximately 516 miles of track, of which it owns approximately 163 miles. The company was founded in 1969 and is based in Worcester, Massachusetts.

138 Employees
Last Reported Date: 03/20/15
Founded in 1969

providence and worcester rr (PWX) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $449.9K
President, Chief Operating Officer, Director ...
Total Annual Compensation: $233.5K
Vice President of Marketing
Total Annual Compensation: $171.1K
Compensation as of Fiscal Year 2014.

providence and worcester rr (PWX) Key Developments

Providence and Worcester Railroad Company Executes Business Loan Agreement, Promissory Note, and Related Documents with Commerce Bank & Trust Company (Commerce) Providing for $5 Million Term Loan

On May 4, 2015, Providence and Worcester Railroad Company executed a Business Loan Agreement, Promissory Note, and related documents with Commerce Bank & Trust Company (Commerce) providing for a $5 Million term loan. The proceeds of the Term Loan will be used to replace one and rehabilitate certain other bridges located along the company’s Main Line, between Worcester, Massachusetts and Providence, Rhode Island, to accommodate increased tonnage capabilities. The Term Loan matures on May 4, 2026. Pursuant to provisions of the Term Loan, the company is required annually to maintain a tangible net worth (as defined in the Term Loan) of at least $70 million. The Term Loan will require payments of interest only for twelve months whereupon it converts to a ten year term loan with payments based upon a twenty year amortization. The Term Loan bears interest at 4.11% per annum for the life of the loan. The Term Loan is unsecured; however, the company is subject to certain financial and non-financial covenants, including the tangible net worth requirement, use of the loan proceeds, and financial record keeping requirements. At its option, the company may prepay all or any portion of the outstanding Term Loan, subject to certain prepayment premiums where applicable. The Loan Documents contain other customary covenants, terms and conditions. The company and Commerce also consummated a two-year extension of the maturity of a $5 Million unsecured line of credit facility pursuant to a Promissory Note and a Business Loan Agreement executed on June 25, 2009. The Loan Facility was extended to June 25, 2017 pursuant to an Allonge to Promissory Note dated May 4, 2015 at a reduced variable interest rate of the thirty day London Interbank Offered Rate (LIBOR) plus one and five tenths percent. The company pays no commitment fee on this line and has no compensating balance requirements. Borrowings under this Loan Facility are unsecured and due on demand. No amounts are outstanding under the Loan Facility.

Providence and Worcester Railroad Company Announces Amendment to its Bylaws

The Annual Meeting of Shareholders of Providence and Worcester Railroad Company held on April 29, 2015, has approved proposed amendment to the Company's Bylaws designating the State of Rhode Island and Providence Plantations as the exclusive forum for certain legal actions (by the holders of Common Stock and Preferred Stock, voting as separate classes). On October 29, 2014, the Board of Directors approved for submission to the shareholders a proposed amendment to the Bylaws of the Company to add a new Section 5 to Article VII designating courts of the State of Rhode Island and Providence Plantations as the sole and exclusive forum for certain legal actions. The proposed amendment would designate any derivative action brought on behalf of the Company, and any action brought by a shareholder against the Company or any of its directors, officers, or other employees alleging a violation of the State of Rhode Island Business Corporation Act, the Company's legislative charter, or Bylaws, a breach of fiduciary duties, or a violation asserting a claim governed by the internal affairs doctrine.

Providence and Worcester Railroad Company Proposes Amendments to the Bylaws

Providence and Worcester Railroad Company at its annual meeting of the shareholders to be held on April 29, 2015, will approve the amendment to the company's Bylaws designating the State of Rhode Island and Providence Plantations as the exclusive forum for certain legal actions.

 

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PWX

Industry Average

Valuation PWX Industry Range
Price/Earnings 28.8x
Price/Sales 2.6x
Price/Book 1.1x
Price/Cash Flow 13.6x
TEV/Sales 2.4x
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