Quick Win by the Algorithm: Earnings Surprise Yields RAIL Over 30% In 3 Days

Quick Win by the Algorithm

On May 5, 2017, the I Know First algorithm had predicted a bullish forecast for FreightCar America, Inc. (NASDAQ: RAIL). RAIL had a signal of 231.89 and a predictability of 0.15. In accordance with the algorithm, the company reported long-position capital gains of 35.05% experiencing a quick win by the algorithm.
Quick Win

FrieghtCars America, Inc. (RAIL) designs, manufactures and sells rail cars to transport bulk commodities and other shipping contents. The company’s client base consists of railroads, shipping, and financial institutions. The company is headquartered in Chicago and founded in 1901.

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RAIL recently released its Q1 earnings for the year 2017.  Although consolidated revenue decreased to $139.5 million, approx. 5% from the same time period last year, the company surpassed estimates in earnings per share.  Estimates predicted a loss of $0.09, instead the company reported an EPS of $0.14. How could RAIL report such a dramatic turnaround?  CEO Joesph E. McNeely attributes this from “lower cost structure during the quarter from our previously announced cost reduction initiatives”.  Another notable attribute of the company is its ability to have no outstanding debt and yet maintain over $100 milllion in cash, cash equivalents and marketable securities.

This bullish forecast on RAIL was sent to current I Know First subscribers on May 5th, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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