CSX Falls 3% After In-Line Q4
CSX Corp. (NYSE: CSX) is down more than three percent in after hours trading after company announced its fourth quarter results.
The company reported a Q4 EPS of $0.42, which was inline with Wall Street's expectations.
Earnings per share were up five percent from the year-ago period.
Revenue came in at $3 billion versus the Street estimate of $2.98 billion. Sales were up four percent year-over-year.
"Supported by the strength of an expanding economy, we delivered 6 percent volume growth in the quarter, despite another sharp decline in coal," Michael J. Ward, chairman, president and CEO of CSX Corp., said in a company release. "As the economy continues to expand, CSX is well positioned to leverage that environment to create sustainable long-term value for our customers and shareholders."
CSX performed well during the last quarter as well. The stock has intrigued investors, rising more than 38 percent during the last 12 months.
Regardless, some analysts seemed to be disappointed with the company as recent as October. At that time, RBC Capital downgraded the stock from Outperform to Sector Perform and reduced the Price target from $31 to $28.
BMO Capital wound up with a $28 Price Target as well after reducing its PT, which was previously $29. BMO also dropped its rating from Outperform to Market Perform.
In December, Bank of America did the opposite. BofA reiterated its Buy rating and raised its PT from $29 to $32.
Deutsche Bank was a little more cautious, raising its PT from $25 to $28 while reiterating its Hold rating on the stock.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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