CSX Corporation (CSX) is Initiated by Seaport Global Securities to Neutral, Price Target at $31

CSX Corporation (CSX) was Initiated by Seaport Global Securities to “Neutral” and the brokerage firm has set the Price Target at $31. Seaport Global Securities advised their investors in a research report released on Oct 19, 2016.

Many Wall Street Analysts have commented on CSX Corporation. Company shares were Reiterated by Cowen on Oct 14, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 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 -0.125 points or -0.40% at $31.025 with 99,25,996 shares getting traded on Friday. Post opening the session at $31.45, the shares hit an intraday low of $31.01 and an intraday high of $31.73 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Oct 5, 2016, CSX Corporation announced a cash dividend of $0.1800. The company’s management has announced Nov 28, 2016 as the ex-dividend date and fixed the record date on Nov 30, 2016. The payable date has been fixed on Dec 15, 2016.

In a different news, on Oct 19, 2016, Michael J Ward (Chairman and CEO) sold 300,000 shares at $30.97 per share price. According to the SEC, on Oct 11, 2016, Clarence W Gooden (President) sold 16,129 shares at $31.00 per share price. On Sep 3, 2015, David M Ratcliffe (director) purchased 1,868 shares at $26.84 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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