BUZZ — PREVIEW: J.B. Hunt shares edge up; focus on diesel costs ahead of results
* J.B. Hunt Transport Services shares gaining 1% on Thurs ahead of qtrly results, due after the bell, with investors likely to focus on the impact of escalating diesel fuel costs * The trucking and logistics co is expected to report qtrly rev up 17% to $3.57 bln vs $3.05 bln in the yr-ago period, and adj EPS of $1.89 vs $1.76 a yr ago, per LSEG * In September, J.B. Hunt's finance chief warned of a sequential drop of 5% to 10% in third-quarter profit, noting that higher transportation rates, which included a rise in diesel prices and driver rates going into the peak holiday season, have drastically raised costs for the company * Prices for diesel have surged to record highs in many markets amid disrupted supply from the war in the Middle East and the Russia-Ukraine conflict * Bernstein this week cut its PT on JBHT to $307 from $329 * The median Wall Street 12-mo PT on the stock is $290, down from $315 a month ago; the stock was last at $234.59 * Analyst ratings on the stock include 15 "strong buy" or "buy" ratings, nine "hold" ratings and one "sell" * The stock has surged about 20.5% YTD, outperforming the Nasdaq's 14.5% rise (Reporting by Caroline Valetkevitch ) ((caroline.valetkev
* J.B. Hunt Transport Services shares gaining 1% on Thurs ahead of qtrly results, due after the bell, with investors likely to focus on the impact of escalating diesel fuel costs * The trucking and logistics co is expected to report qtrly rev up 17% to $3.57 bln vs $3.05 bln in the yr-ago period, and adj EPS of $1.89 vs $1.76 a yr ago, per LSEG * In September, J.B.
Hunt's finance chief warned of a sequential drop of 5% to 10% in third-quarter profit, noting that higher transportation rates, which included a rise in diesel prices and driver rates going into the peak holiday season, have drastically raised costs for the company * Prices for diesel have surged to record highs in many markets amid disrupted supply from the war in the Middle East and the Russia-Ukraine conflict * Bernstein this week cut its PT on JBHT to $307 from $329 * The median Wall Street 12-mo PT on the stock is $290, down from $315 a month ago; the stock was last at $234.59 * Analyst ratings on the stock include 15 "strong buy" or "buy" ratings, nine "hold" ratings and one "sell" * The stock has surged about 20.5% YTD, outperforming the Nasdaq's 14.5% rise (Reporting by Caroline Valetkevitch ) ((caroline.valetkevitch@thomsonreuters.com)