Jim Cramer Says He Joked With CSX Corporation (CSX)'s CEO About Its Valuation Being Higher Than JPMorgan

We recently published 15 Stocks Jim Cramer Discussed As He Said CEOs Were Afraid Of Hiring. CSX Corporation (NASDAQ:CSX) is one of the stocks Jim Cramer recently discussed.

CSX Corporation (NASDAQ:CSX)’s shares have struggled recently due to fresh developments in the railroad industry. The business-friendly approach of the Trump administration has stimulated a flurry of mergers and acquisitions activity in the railroad sector, which has prompted Union Pacific and Norfolk Southern to join forces. Naturally, their teaming up raised similar hopes for CSX Corporation (NASDAQ:CSX), and when the firm announced that it would expand its partnership with BNSF instead, investors were disappointed and sent the shares 9.7% lower. Cramer’s previous comments about the firm have praised its CEO, Joseph Hinrichs, and used its data to point out that China wasn’t buying American coal. This time, he discussed CSX Corporation (NASDAQ:CSX)’s valuation:

“I was making some jokes at Joe Hinrichs about CSX, CSX is more richly valued much more than JPMorgan.”

Here are the CNBC TV host’s previous comments about CSX Corporation (NASDAQ:CSX):

“As Joe Hinrichs said to me last night on CSX, for the first time railroads are looking to work together. There is a up to a five day delay every time you get to Chicago because they don’t really, I mean we never really completed one. He’s saying you don’t need to merge, in order to make things more efficient. That would hurt the Norfolk Southern, Union Pacific merger.

“Joe Hinrichs’, by the way, his stock was the second best in the group, and if you take out the fluff that developed from Norfolk Southern when you [David] broke the story that there were talks, you actually had the number one performer. So he’s been slagged, and slagged, and slagged, even though he’s number one. And I don’t know if that’s so good.

“No, there’s not a buyer. No, not a buyer.”

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Disclosure: None. This article is originally published at Insider Monkey.