CSX (NASDAQ:CSX) Shares Gap Down Following Weak Earnings

Shares of CSX Co. (NASDAQ:CSX) gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $33.67, but opened at $32.05. CSX shares last traded at $32.75, with a volume of 5,150,227 shares changing hands.

The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%.

Analyst Ratings Changes

A number of research firms recently issued reports on CSX. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday. Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday. Citigroup cut their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday. Finally, Susquehanna cut their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

Institutional Investors Weigh In On CSX

Large investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its stake in shares of CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after purchasing an additional 306 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in CSX by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after purchasing an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after purchasing an additional 309 shares in the last quarter. Finally, Associated Banc Corp lifted its stake in CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock worth $1,918,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

The firm’s 50 day simple moving average is $33.53 and its 200 day simple moving average is $33.94. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market cap of $63.04 billion, a PE ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.