The stock of CSX Corporation (NASDAQ:CSX) is a huge mover today! About 7.88 million shares traded hands or 22.93% up from the average. CSX Corporation (NASDAQ:CSX) has risen 23.33% since March 3, 2016 and is uptrending. It has outperformed by 14.99% the S&P500.
The move comes after 6 months positive chart setup for the $29.75B company. It was reported on Oct, 6 by Barchart.com. We have $47.28 PT which if reached, will make NASDAQ:CSX worth $15.77 billion more.
Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on October, 11. They expect $0.46 earnings per share, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $442.87 million for 16.79 P/E if the $0.46 EPS becomes a reality. After $0.47 actual earnings per share reported by CSX Corporation for the previous quarter, Wall Street now forecasts -2.13% negative EPS growth.
CSX Corporation (NASDAQ:CSX) Ratings Coverage
Out of 6 analysts covering CSX Corp (NASDAQ:CSX), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. As per Tuesday, January 19, the company rating was maintained by Argus Research. The firm has “Market Perform” rating given on Thursday, January 14 by Cowen & Co. Bank of America upgraded CSX Corporation (NASDAQ:CSX) on Tuesday, February 23 to “Buy” rating. The stock of CSX Corporation (NASDAQ:CSX) has “Outperform” rating given on Thursday, January 14 by RBC Capital Markets.
According to Zacks Investment Research, “CSX Corporation’s unique combination of rail, container-shipping, intermodal and logistics services provides global reach that’s second to none. The company’s goal, advanced at each of its business units, is to provide efficient, competitive transportation and related services for customers.”
Insitutional Activity: The institutional sentiment increased to 0.95 in Q2 2016. Its up 0.08, from 0.87 in 2016Q1. The ratio increased, as 53 funds sold all CSX Corporation shares owned while 275 reduced positions. 64 funds bought stakes while 246 increased positions. They now own 639.14 million shares or 2.82% less from 657.68 million shares in 2016Q1.
Veritable Ltd Partnership has invested 0.02% of its portfolio in CSX Corporation (NASDAQ:CSX). Bessemer Grp Inc Inc has 8,747 shares for 0% of their US portfolio. Strs Ohio last reported 0.09% of its portfolio in the stock. American holds 0% or 870,774 shares in its portfolio. 3G Partners L P last reported 731,797 shares in the company. Perritt Cap Mgmt Incorporated has 20,640 shares for 0.14% of their US portfolio. National Pension Serv holds 0.15% or 644,739 shares in its portfolio. Schwab Charles Investment Mgmt, a California-based fund reported 2.91 million shares. The Bermuda-based Fil has invested 0.01% in CSX Corporation (NASDAQ:CSX). Akre Capital Ltd Com holds 0.02% of its portfolio in CSX Corporation (NASDAQ:CSX) for 38,781 shares. Fayez Sarofim & Company last reported 22,000 shares in the company. Blackrock Japan Limited owns 1.22 million shares or 0.11% of their US portfolio. Mutual Of America Cap Mngmt Limited Liability Company has 0.06% invested in the company for 111,799 shares. The Massachusetts-based Liberty Mutual Group Asset Incorporated has invested 0.06% in CSX Corporation (NASDAQ:CSX). Louisiana State Employees Retirement Sys, a Louisiana-based fund reported 62,700 shares.
Insider Transactions: Since September 26, 2016, the stock had 0 insider purchases, and 1 sale for $510,184 net activity. GOODEN CLARENCE W sold $510,184 worth of CSX Corporation (NASDAQ:CSX) on Monday, September 26.
More notable recent CSX Corporation (NASDAQ:CSX) news were published by: Seekingalpha.com which released: “CSX Still Looks Attractive” on October 05, 2016, also Profitconfidential.com with their article: “CSX Corporation: The Bull Run in CSX Stock has Only Begun” published on September 20, 2016, Globenewswire.com published: “CSX Corporation Announces Revised Dates For Earnings Release and Third-Quarter …” on September 07, 2016. More interesting news about CSX Corporation (NASDAQ:CSX) were released by: Globenewswire.com and their article: “CSX Corporation Announces Dates For Earnings Release and Third-Quarter …” published on September 07, 2016 as well as Seekingalpha.com‘s news article titled: “Time To Sell CSX” with publication date: September 29, 2016.
CSX Company Profile
CSX Corporation, together with its subsidiaries, incorporated on November 15, 1978, is a transportation company. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. The Firm serves approximately three lines of business, such as merchandise business, coal business and intermodal business. The Company’s operating subsidiary, CSX Transportation, Inc. (CSXT), provides a link to the transportation supply chain through its approximately 21,000-route mile rail network, which serves population centers in approximately 20 states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. It has access to over 70 ocean, river and lake port terminals along the Atlantic and Gulf Coasts, the Mississippi River, the Great Lakes and the St. Lawrence Seaway. The Company’s intermodal business links clients to railroads through trucks and terminals. CSXT also serves production and distribution facilities through track connections to approximately 240 short-line and regional railroads.
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