Company Update (NYSE:CSX): CSX to Streamline Mechanical Operations at 16 Locations

[GlobeNewswire] – JACKSONVILLE, Fla., Feb. 12, 2016– As part of CSX’ s ongoing commitment to driving network improvement and resource efficiency to match demand, the company is streamlining operations at 16 lower-volume … Read more on this. CSX Corp. (CSX) , with a current market cap of $23.25B, opened this morning at $23.27. Looking at the stock, its one day range is $23.27 to $24.10 with a trailing 52-week range being $21.33 to $37.67. CSX shares are currently priced at 13.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.95x earnings multiple. And for income investors, the company pays shareholders $0.72 per share annually in dividends, yielding 3.15%. According to a consensus of 24 analysts, the earnings estimate of $0.37 per share would be $0.08 worse than the year-ago quarter and a $0.07 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.84 would be a $0.16 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.71 Billion. If reported, that would be a 10.56% decrease over the year-ago quarter. In terms of ratings, Avondale downgraded CSX from Mkt Perform to Mkt Underperform (Feb 12, 2016). Previously, Buckingham Research upgraded CSX from Neutral to Buy. With the above information in mind, readers should note that the average price target is $26.83, which is 15.30% above where the stock opened this morning. See more in (NYSE:CSX) Similar Articles: Company Update: CSX Corp (NYSE:CSX) – Railroads to Profit — CSX Corp., Union Pacific, Norfolk Southern, and Kansas City Southern Company Update: CSX Corp (NYSE:CSX) – CSX and the Conservation Fund Announce 2015 Grant Recipients Market Update (NYSE:CSX): CSX, Mechanical Unions Announce Progressive Labor Partnership
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