CSX Corporation (CSX) is Downgraded by BB&T Capital Mkts to Hold

CSX Corporation (CSX) was Downgraded by BB&T Capital Mkts to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. BB&T Capital Mkts advised their investors in a research report released on Jul 15, 2016.

Many Wall Street Analysts have commented on CSX Corporation. Company shares were Reiterated by Cowen on Jul 15, 2016 to “Market Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .CSX Corporation was Downgraded by Stifel to ” Hold” on Jul 15, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 32 from a previous price target of $30 .

On the company’s financial health, CSX Corporation reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 13, 2016. Analyst had a consensus of $0.44. The company had revenue of $2670.00 million for the quarter, compared to analysts expectations of $2686.99 million. The company’s revenue was down -12.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

CSX Corporation closed down -0.53 points or -1.82% at $28.52 with 88,68,927 shares getting traded on Friday. Post opening the session at $29.05, the shares hit an intraday low of $28.38 and an intraday high of $29.08 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 3, 2015, David M Ratcliffe (director) purchased 1,868 shares at $26.84 per share price. According to the SEC, on May 8, 2015, Fredrik J Eliasson (EVP & Chief Financial Officer) sold 30,000 shares at $35.48 per share price. On Apr 20, 2015, Gilbert H Lamphere (director) sold 165,556 shares at $32.38 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

CSX Corporation

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