CSX Corporation (CSX) is Reiterated by Cowen to Outperform, Raises Price Target to $ 33

CSX Corporation (CSX) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 33 from a previous price target of $30 . Cowen advised their investors in a research report released on Oct 14, 2016.

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 -0.36 points or -1.17% at $30.47 with 99,00,627 shares getting traded on Tuesday. Post opening the session at $30.81, the shares hit an intraday low of $30.305 and an intraday high of $30.82 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 11, 2016, Clarence W Gooden (President) sold 16,129 shares at $31.00 per share price. According to the SEC, on Sep 3, 2015, David M Ratcliffe (director) purchased 1,868 shares at $26.84 per share price. On May 8, 2015, Fredrik J Eliasson (EVP & Chief Financial Officer) sold 30,000 shares at $35.48 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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