Founders Capital Management buys $6.4 Million stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Founders Capital Management scooped up 5,925 additional shares in CSX Corporation during the most recent quarter end , according to a recent disclosure to the SEC on Apr 5, 2016. The investment management firm now holds a total of 259,235 shares of CSX Corporation which is valued at $6.4 Million.CSX Corporation makes up approximately 3.71% of Founders Capital Management’s portfolio.

On the company’s financial health, CSX Corporation reported $0.37 EPS for the quarter, based on the information available during the earnings call on Apr 12, 2016. Analyst had a consensus estimate of $0.37. The company had revenue of $2618.00 million for the quarter, compared to analysts expectations of $2680.81 million. The company’s revenue was down -13.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on CSX Corporation. Company shares were Reiterated by Cowen on Apr 14, 2016 to “Market Perform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .CSX Corporation was Downgraded by Morgan Stanley to ” Underweight” on Feb 23, 2016. CSX Corporation was Upgraded by BofA/Merrill to ” Buy” on Feb 22, 2016.

CSX Corporation closed down -0.27 points or -1.09% at $24.53 with 1,19,23,137 shares getting traded on Monday. Post opening the session at $24.73, the shares hit an intraday low of $24.36 and an intraday high of $24.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

CSX Corporation (CSX) together with its subsidiaries is a transportation company. The Company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The Company has three lines of business: merchandise business coal business and the intermodal business. The Company’s merchandise business transports aggregates (which include crushed stone sand and gravel) metal phosphate fertilizer food consumer (manufactured goods and appliances) agricultural automotive paper and chemical products. Its coal business transports domestic coal coke and iron ore to electricity-generating power plants steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Through a network of around 50 terminals the intermodal business serves markets east of the Mississippi and transports manufactured consumer goods in containers providing truck-like services for longer shipments.

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