CSX Corp CSX is trading higher Thursday morning after the company announced better-than-expected financial results.
CSX reported second-quarter earnings of 40 cents per share, which beat the estimate of 37 cents per share. The company reported quarterly revenue of $2.99 billion, which beat the estimate of $2.92 billion.
"These results include benefits from the sale of certain property rights in CSX-owned line segments to the Commonwealth of Virginia for passenger rail operations. The transaction favorably impacted operating income by $349 million, operating ratio by 11.7 percentage points, and earnings per share by $0.12," CSX said via press release.
Analyst Assessment: RBC Capital analyst Walter Spracklin maintained CSX with an Outperform rating and raised the price target from $36 to $37.
Credit Suisse analyst Allison Landry maintained CSX with an Outperform rating and raised the price target from $38 to $39.
TD Securities analyst Cherilyn Radbourne upgraded CSX from Hold to Buy and raised the price target from $36 to $38.
Price Action: CSX has traded as high as $104.87 and as low as $30.64 over a 52-week period.
At last check Thursday, the stock was up 4.18% at $32.89.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
